Angutoid
fucking hoes and popping pills
- Joined
- Sep 12, 2023
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Not every fraudster is a CC cloner negro that makes 800 dollars monthly
How can a man say the man behind this system is low iq?
Çiftlik Bank was a controversial Ponzi scheme that operated in Turkey, attracting thousands of investors before collapsing in 2018. Its name translates to "Farm Bank," and it presented itself as an online farming game where players could "invest" in virtual livestock, crops, and other agricultural products to earn returns. Here’s a breakdown of how it worked and why it was ultimately deemed a scam:
How can a man say the man behind this system is low iq?
Çiftlik Bank was a controversial Ponzi scheme that operated in Turkey, attracting thousands of investors before collapsing in 2018. Its name translates to "Farm Bank," and it presented itself as an online farming game where players could "invest" in virtual livestock, crops, and other agricultural products to earn returns. Here’s a breakdown of how it worked and why it was ultimately deemed a scam:
How the System Worked
- Online Farm Simulation Game:
- Çiftlik Bank was set up to look like a game in which users would buy virtual livestock and other agricultural assets. The virtual farm concept drew people in, making it seem like a straightforward investment in the agricultural sector.
- Promises of High Returns:
- The company attracted investors by promising high returns, often up to 300% over the initial investment. The company claimed to invest the money in real farms and livestock facilities in Turkey, making it appear like the virtual assets were backed by real operations.
- Investor Payments from New Members:
- Instead of generating profits through actual business activities, Çiftlik Bank used the funds of new investors to pay returns to earlier investors, a classic Ponzi scheme tactic. This gave the illusion of a profitable business and encouraged people to keep investing.
- Marketing and Endorsements:
- The company used flashy advertising and celebrity endorsements, creating a legitimate front and attracting more people. The founder, Mehmet Aydın, even opened physical locations in Turkey to strengthen its credibility.
- Expansion and Rapid Growth:
- Çiftlik Bank quickly gained around 80,000 investors and collected an estimated $130 million. Its rapid expansion helped perpetuate the scheme as long as new investors continued to join.
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