Despite several months of warnings from regulators, hundreds of thousands of people have fallen victim to another Ponzi scheme, Chy Mall, an online trading and marketing service.
Readers of iDO GH News will recall that the Economic and Organized Crime Office (EOCO) and the Securities and Exchange Commission (SEC) warned the public against dealing with the company as a Ponzi scheme.
CHY Century Heng Yue Group Limited/Sairui E-commerce Ghana Limited is a Chinese company that provides online trading and marketing services.
In its operations, the company allows customers to purchase a product online from a virtual shop by registering for free.
Customers of Chy Mall then select an investment package ranging from Gh770 to Gh9,240.
Customers can also earn money by operating a trading account, owning an online shop, trading in Chy Mall goods in the shop, and participating in the networking referral system at the same time or separately.
All of the warnings have proven to be true, as victims and potential victims who avoided joining despite the pressures have shared their stories.
Due to privacy concerns, We published the opinions without the authors’ names.
Invest 3000gh and receive 47gh every 15 days for a year, and do you think it’s a good business? Don’t bother looking at me.
The unfortunate reality is that a new one will emerge soon, and people will continue to fall for it. Oh, no! I’m not sure if people have brains in their heads.
Try advising people against it and see how many insults you get. I was so surprised when two highly educated ‘friends’ sent me flyers and brochures to join that I called to confirm it was them.
They chop them up big time, long and short. Like a lot of money. There’s a lady on here who called me basabasa for referring to it as a scam. I wish I’d written her name down somewhere so I could thank her.
I told a friend not to invest in such things because the outcome wouldn’t be good news and he nearly ended our friendship because he thought I was against his progressA colleague asked me to join and I refused. Now she doesn’t even smile with me 😀😀😀
So who asked this guy to bring chy matter here? I thought we’re here to help people emotionally and not the other way round?🤔🤔
Somebody should advise him to remove the post wai 😀😀😀😀
when someone asks “what bussiness can i do with 5000 cedis “ then you see them 😂..now mo na mo sh3 h) no I had been seeing a friend status chilling in car n spreading money around him bragging. Come to think of it,now everything changed around him. He hardly post or u seeing him online sef
It has ended in tears ooo hmmm. Am glad I withdrew some before this happened. I have advised myself.they were given e-loans n re-invested same whether u like it or not. so u can’t withdraw ur dividend till ur loan is fully paid. people are born scammers
A friend told me he doesn’t have money when I needed loan badly. He invested that money into ChY mall. The way some man bi nearly slapped me in a taxi er. He had invested $2,000 and convincing the taxi driver(who happens to be his old co-tenant) to invest. I told him it’s a ponzi scheme—which would collapse as soon as the scanners hit their target just like loom and Menzgold 😂. I’m sure he’ll remember me now One person came to disturb me saaaaa then I did it, my 1550 is in water😭😭 the way Ghana make hot like this😒😒😒
Because of CHY MALL I lost 2 friends.
I told them I’m a victim of a few investment scams so I don’t do those things again. That’s all. I didn’t support them to make money 🤣🤣. That means I hate them. E hard oo
I wish them well by the way 😤
In schemes such as chy mall, there are always winners, losers and some people who’ll neither win nor lose
Initially everything was going on well and I was making money until they decided to upgrade our accounts. I became suspicious and quickly sell my account 🤭🤭
Hehehe, my colleague at work was doing chy mall gidigidi and convinced me saaa I nearly invested my 7000 cedis. Chai, see me running to thank God lolSomebody insulted me for describing this thing a scam. Infact I was told I am too ignorant. Well they deserve all of it
Someone introduced chy mall to me and also sent me pictures of successful people who made plenty money. I said me, pay money to an account I don’t know the source d3 no.
Few weeks I heard CHY mall is now history. 🤣🤣🤣
Other Ponzi schemes such as GCCH, Menzgold and Petropay have all collapsed with its owners facing investigation.