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The website of one of the ponzi schemes in Nigeria, Ultimate Cycler is down, sending panic waves across many of its Nigerian members who have invested their money in it, as well as those who invested in MMM.
Unlike MMM which offered 30% returns on investment, Ultimate Cycler promised to pay 300% return to its investors within 45 days.
The huge returns offered has lured many to the scheme, with some even abandoning MMM Nigeria.
The ponzi website, www.ultimatecycler.com went down early Thursday morning, around 10:30am, shutting out every member who owns an account with it. When accessed, the site initially displayed an error line of code, before displaying ”Error 500” in bold letters, then it proceeded to display another message:
“Be right back. We are currently updating the site to give you a more pleasurable experience and will be back online shortly. Our update estimation is to be complete over the next 6 – 12 hours. Thank you, Peter Wolfing.”
Ultimate Cycler is a new ponzi scheme that followed MMM. This new money doubling scheme claims a promise of better returns on invested money than MMM. The hook for Ultimate Cycler is members get a return of N50,000 after paying N12,500 to a fellow member he or she registered under.
As at the time of filing this report, the ponzi website has still not come to life.