Nigerians who were ensnared by the PECO Ponzi scheme have come forward to disclose the tactics employed by its operators to lure investors and its subsequent rebranding following the misappropriation of funds.
Originally operating as a standard Ponzi scheme, PECO enticed individuals with promises of returns on investments in various products, including solar panels and vacuum cleaners. The scheme presented itself as Pentair Ecotech Company, masquerading as a legitimate water treatment entity registered in Ireland and the US, despite having no affiliation with the actual company it impersonated.
Victims like David, introduced to the scheme by acquaintances, were drawn in through WhatsApp group chats where one of the masterminds, using the alias Emily, engaged with potential investors. Despite initial payouts, the scheme eventually stalled payments, leaving investors in disbelief and financial ruin.
David and others were encouraged to invest in different packages with promises of high returns, only to find themselves trapped in a web of deceit as the scheme demanded additional payments to access earnings. Emily, posing as a trustworthy figure, persuaded victims to upgrade their investments, further exacerbating their losses.
Operating under the guise of legitimacy, PECO utilized Nigerian bank accounts for transactions while concealing its fraudulent activities. Despite reassurances from Emily and her associates, victims soon realized they had been duped when attempts to withdraw funds required further payments.
Following its shutdown, PECO resurfaced as WFC, prompting concerns of continued exploitation. Victims, grappling with immense financial losses, are left devastated, with reports emerging of individuals contemplating drastic measures like suicide.
Despite their despair, victims are rallying together to seek justice and recover their funds, with efforts underway to file petitions against PECO. Through collective action, they aim to hold the perpetrators accountable and prevent further harm to unsuspecting individuals.
As victims unite in their pursuit of justice, they remain determined to ensure that those responsible for their plight face the consequences of their actions, offering hope for a resolution amidst the turmoil.
Details of Scammers:
Account Name: Ahmad Jamila
Account Number: 2072193518
Bank Name: Kuda Bank
Account Name: Terunde-Terunde
Account Number: 9042094448
Bank Name: Moniepoint
Account Name: Kudirat Shewa Aminu
Account Number: 0289736993
Bank Name: Wema Bank
Source: fij. ng
