86FB, a football-focused investment platform that purports to merge probability and analytics with William Hill, a multinational online gambling corporation situated in London, England, may have just fallen.
This comes as a number of high-profile Ponzi schemes in Nigeria have recently collapsed. The platform, which claims to be owned by City Football Group, has also been determined to be unrelated to the Abu Dhabi-based business that owns Manchester City Football Club in England.
The Economic and Financial Crime Commission (EFCC) recently stated that four Ponzi scheme operators will be arrested across Nigeria in the coming weeks.
"Focuses on football and works with William Hill to incorporate probability and statistics," the 86FB website boasts. Competitive football is not only a game, but also a high-level sport equivalent to funds and stocks, thanks to calculations, mathematics, and other principles.
It claims to use a hedge fund arbitrage approach in sports betting that blends finance and conceptual science to produce consistent profits with very low risk.
Some of its agents also say that it operate a reverse betting site where investors may make 3% of their capital daily (90 percent monthly ROI) if they follow the team's game strategy.
The possibility of the Ponzi scheme collapsing
All of the promises of lucrative investment returns sounded almost too good to be true, as some people suspected.
The fear of the scheme crashing gripped many Nigerian investors which made many question the ownership among many other query. To this effect #86fb has been trending for days now in Nigeria.
#86fb #ponzi #poni scheme #scam alert
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