WeFundAfrica Club (WEFA) Member Donation Platform is a Ponzi or Pyramid Scheme

WeFundAfrica Club (WEFA) Member Donation Platform is a Ponzi or Pyramid Scheme

WeFundAfrica.Club, also called #WEFA, which the owners claim is a member to member donation platform where members are given the chance of earning online from home, is a Ponzi or Pyramid scheme. Online users are advised not to register on the website or become a member. And, those who are already members are asked to stop making payments to the website.

The Website: www.WeFundAfrica.Club (#WEFA)

WeFundAfrica.Club - #WEFA

WeFundAfrica.Club is consider a scam because they promise members or investors large profits based primarily on recruiting others to join their program, not based on profits from any real investment or real sale of goods to the public, making them appealing to people who want to make some quick cash.

Why is WeFundAfrica.Club a Pyramid or Ponzi Scheme?

WeFundAfrica.Club is a pyramid or Ponzi scheme because they do not do any form of investments, sell products or services to make money. Instead, they take money from new members that old members recruit, to pay the same old members. If WeFundAfrica.Club fails to recruit new members, they will be unable to pay old members, which will cause the scheme to crash. Once the scheme crashes, the owners will take whatever money they have collected and disappear.

The owners of WeFundAfrica.Club just collect money from new members, and pay some out to old members and keep the rest for themselves. That is all they do. Once the pyramid scheme fails, new members will suffer the most, because they will not get back a single dime of their so-called investment. For the owners, it will be a big payday for them, because they would have already collected thousands or millions of dollars from their members or participants.

What is a Pyramid or Ponzi Scheme?

A pyramid or Ponzi scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are unsustainable and often illegal.

In a pyramid scheme, an organization compels individuals to join and make a payment. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit. The directors of the organization (those at the top of the pyramid) also receive a share of these payments. For the directors, the scheme is potentially lucrative - whether or not they do any work, the organization's membership has a strong incentive to continue recruiting and funneling money to the top of the pyramid.

Such organizations seldom involve sales of products or services with value. Without creating any goods or services, the only ways for a pyramid scheme to generate revenue are to recruit more members or solicit more money from current members. Eventually, recruiting is no longer possible and most members are unable to profit from the scheme.

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Comments (Total: 9)

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  • February 20, 2017 at 5:42 AM by an anonymous user from: Lagos, Nigeria

    Dear #WEFA administrators,

    I am Mr. Solomon Bonzeme from Nigeria a member of this club that have made donation of #8000 close to two weeks now, but I haven't received help from any as expected. Why and what do I do to get back help from the club.

    • August 17, 2017 at 6:27 PM by info

      The website is a scam operated by cyber criminals.

  • February 8, 2017 at 4:15 AM by an anonymous user from: Lagos, Nigeria

    Wefa, if you don't pay me before 48hrs I'll hack into your site and drain crash, that I promise.

  • February 1, 2017 at 12:24 AM by an anonymous user from: Lagos, Nigeria

    Really, wefundafrica are not paying their members again. I made donation to a member since 20/12/2016, since then till now, no respond. wefundafrica what is the way forward? Mr. Harcourt.

  • January 19, 2017 at 4:43 PM by an anonymous user from: Lagos, Nigeria

    I paid money to my upliner and he cannot confirm me since yesterday.

  • January 12, 2017 at 12:52 PM by an anonymous user from: Lagos, Nigeria

    Please help me, I ve paid since yesterday and nobody wants pay to me.

  • January 10, 2017 at 8:56 AM by an anonymous user from: Lagos, Nigeria

    Yes it is true I was told to pay some one on WEFA, but getting to the bank the account name didn't match with what they gave me. I have to go back and ND report but there is no means for me to lay my complain. I tried to post my picture on the teller session but it was unable to post.

    I just thank God that I didn't pay in, if not my name na sorry. Pls my fellow brethren, mind what u do, so that u wouldn't end up losing the little u have thanks and God bless.

  • January 8, 2017 at 2:11 PM by an anonymous user from: Lagos, Nigeria

    WEFA is a big scam; one person keep taking all your referral and payment goes to one account, so please note there is no easy money anywhere.

    • February 8, 2017 at 4:12 AM by an anonymous user from: Lagos, Nigeria

      WEFA, if you guys don't pay me I'll hack into your site and drain crash from you, I promise.

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WeFundAfrica Club (WEFA) Member Donation Platform is a Ponzi or Pyramid Scheme