Cases of investment scams have continued to rise over the past few years ever since Mavrodi Mundial Movement (MMM), a Global Ponzi scheme launched in 2015 in Nigeria was out of the way. A lot of fraudulent Nigerians have since taken advantage of the situation – not providing adequate knowledge about the investment schemes and defrauding people of their hard earn savings.
One of such investment scheme that would continue to be remembered for ripping people off their funds is Racksterli, an investment platform introduced by Michael Chidiebere Oti, also known as Black Gold.
The aftermath of the 2020 crises led so many people seeking for investment opportunities to cushion the loss which emanated from the ‘many days spent at home without working’. At this time, the song of Racksterli was sang by many who were lucky to have successfully tasted the get-rich-quick platform.
The platform offered mouth-watering deal which it called the Racsterli Package. The least on the package was the standard deal with an investment of N14,000 and a guarantee of N21,600 within one month while the highest was the Topaz, which requires an investment of N20 million to get N29.3 million. Others are the Diamond, Ruby, Platinum, Emerald amongst others.
In addition to the eye catching ROI (46–58%) promised within the short span, a lot of people were particularly drawn to the scheme by major influencers who advocated for the scheme.
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