Ovaioza, Chinmark Group and Prominent Ponzi Schemes of 2022

• Many Ponzi schemes appeared and disappeared in 2022 after feeding fat on people sweat
• Prominent ones like Ovaioza Farm Storage Produce and Chinmark Group duped their victims of billions
• They had one thing in common while laboured to gain trust and present attractive front

2022 was the year of the rise and fall of prominent investment platforms that defrauded Nigerians of billions of naira of hard-earned money.

From a little-known Ovaioza Yunusa, who operated Ovaioza Farm Storage Produce Business (OFPB) to Chinmark Group, unwary Nigerians were fleeced of billions of naira in past last year.

Modus Operandi of Ponzi schemes

The sophistry of their operations and fronting sparkling corporate image, the operators of these fraudulent schemes weaved a web of investment platforms that trapped many Nigerians in a maze.

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Some investors who lost life savings to these fraudsters became suicidal and went into depression. Other died of heart attacks while some are yet to pick up the pieces of their lives.

Below are some collapsed investment schemes that turned out to be farces.

Ovaioza Farm Produce Storage Business (OFPB)

Founded in 2020 and collapsed one year after, OFPB was…