In a small village in Northern Nigeria, cats were a common pet. Almost every household kept one, and they roamed freely in the community. One day, a White man arrived in the village and rented a small hut. He claimed to be a businessman and announced he was willing to buy cats for ₦5,000 each.
Excited by the opportunity, the villagers rushed to sell their cats, making quick money to feed their families and meet their needs. As the number of available cats dwindled, the White man increased his offer first to ₦7,000, then ₦8,000 per cat. To keep up with demand, villagers began sourcing cats from nearby villages, eager to sell to the generous buyer.
After gathering a substantial number of cats, the White man prepared to leave. Before departing, he made an announcement that shook the village:
"I will return soon, and when I do, I will buy each cat for ₦40,000!"
The offer was too tempting to ignore. Since he had already bought cats before, the villagers believed him without question.
As soon as he left, they began frantically searching for more cats, hoping to stock up in anticipation of his return. A few days later, on their weekly market day, a group of traders arrived, selling cats for ₦15,000 each. Desperate to cash in on the promised ₦40,000 per cat, the villagers scrambled to buy as many as possible.
Some sold their savings. Women pawned their gold and wrappers. Others even borrowed money everything was sacrificed for the chance to make a fortune when the White man returned.
But he never did.
Unbeknownst to them, the traders selling the cats at ₦15,000 were working for the White man himself. He had repurchased the same cats he initially bought for ₦5,000–₦8,000 and resold them at inflated prices, making a huge profit before disappearing.
This is how Ponzi schemes work.
A Ponzi is nothing more than the cat business, and the cat business is a Ponzi.
#fiction #ponzi #FraudAlert #FraudAwareness
