A new fraud was spotted by Nigerian investors on a WhatsApp group called Binomo Trade Investment and there are several of them. Normally, group members deposit money for investment and can also upgrade their investment packages by adding more money.
Mr. Omenka accepted an invitation of a forex group on WhatsApp to join the group last year December, which mainly teaches members how to use cryptocurrency to earn high profit margins.
A manager in that forex group promised that they can return double or triple profits besides principal to investors within 24 hours via Binomo Trade Investment. Mr. Omenka invested N5,000 using bank through bank transfer, but Binomo required Mr. Omenka to pay extra N15,000, otherwise they would refuse Mr. Omenka’s withdrawal. Out of desperation, he transferred extra N15,000 to them.
It is worth noting that Binomo did not return any money to Mr. Omenka, and was eventually blocked within a week.