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Ultimate Cycler is still waxing strong in Nigeria following a relaunch of the scheme that occurred a few weeks ago. CEO of the ponzi scheme, Peter Wolfing announced that over 50,000 Nigerians registered on Ultimate Cycler within the first 24 hrs of relaunch.
The scheme suffered a heavy blow about a month ago when it had to shut down its systems due to an ‘overload’. Wolfing released a statement that the system could not contain the number of users it had so it had to be closed down until a new, stronger system could be built.
Wolfing also runs another scheme called ‘Easy 1 up’. In simple words, the system is basically for people who can refer. Here is how it works;
Users can only earn money if they refer others to the scheme.
There is no limit to how many people you are to refer,
and There is o limit to how much referral bonus you are to earn.
*Register with $25 (#12,500)*
*Pay admin fee $5 (#3,000)*
*Get your account activated
*Refer as many as you can
Only one of your referrals will pay to your upline,
The rest pay directly to you.
Is that hard to understand?
*For example*
Refer 10 persons
1 pays your referrer 12500
9 pays you 12500 each
If the 9 persons you refer should also refer,you will get 12500 each from each person they refer.
In a video published on peter wolfing’s page on December 23rd, he reveals that the Ultimate Cycler program will hit 2 million users before the end of 2016. He also reveals that the website was taken down and rebuilt from scratch.
Despite several warnings by the federal government, CBN,EFCC, Nigerians are still signing up with several other ponzi schemes like Givers Forum, i-charity etc. The recent suspension of activities on Nigeria’s most popular ponzi scheme, MMM has still not discouraged some from patronizing these fraudulent platforms.
Source: Politics NG
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