It is Ponzi season in Kenya, a new get-rich-quick scheme has been making the rounds in Kenya, promising users easy money through car hire, online writing, and affiliate marketing. The scheme, called TopGain Agencies, is a classic Ponzi scheme, which means that it relies on new investors to pay off old investors.
How TopGain Agencies Works
TopGain Agencies operates by offering three different ways for users to make money. First, users can earn a commission by referring new users to the scheme. Second, users can earn money by “getting a client who would like to hire a car and get paid commission.” Third, the pseudo company says users can earn money by writing content for TopGain Agencies.
The commission that users earn for referring new users depends on the rank of the user. For example, a member rank user earns 850 Kenyan shillings (KES) for each new user they refer, while a presidential rank user earns 10,000 KES for each new user they refer.
I can ascertain that they are actually not hiring out cars and it’s just a ploy to look like a real agency, clicking on the car listings on their site returns an error. they promise users they can earn depending on their rank. For example, a member rank user earns 300 KES for each day that a car is rented, while a presidential rank user earns 1500 KES for each day that a car is rented.
According to the website, the amount of money that users earn by writing content for TopGain Agencies is a flat rate of 120 KES per piece of content.
The company has been aggressively marketing the Ponzi scheme on Tiktok. They also claim you “get paid daily for doing simple tasks, Earn 1200-3000 daily working online” and answering questions for 30 KES per pop. They then ask you to engage with them over WhatsApp for training.
Best site to work with by answering some questions. Link and whatsapp number on my bio. #remotejobs #remotejobs2023 #makemoneyonline #fyp #foryou #fypシ #onlinework #onlinejobs #onlinejobsworkfromhome #workfromhome #kenyantiktok
Doing my due diligence, I texted them so you don’t have to. In their so-called training, they send you a 17-minute long audio explaining how you can earn money by playing spin and win, answering questions, website design affiliate marketing, and more but as always, there is a catch.
In order to unlock these ways of making money, you have to buy packages, the first tier is called the starter package and costs Kshs. 1,550. This package has “youtube videos, spin and win, trivia questions, car hire blah blah” The second tier is called the premium package and it costs Kshs. 4000 and has more ways to earn money.
Why TopGain Agencies is a Ponzi Scheme
TopGain Agencies is a Ponzi scheme because it relies on new investors to pay off old investors. As more and more people invest in TopGain Agencies, the scheme becomes more and more unsustainable. Eventually, the scheme will collapse, and most of the investors will lose their money.
My guess is you loose money as soon as you pay for those packages.
How to Avoid TopGain Agencies
There are a few things that you can do to avoid TopGain Agencies and other Ponzi schemes. First, be wary of any investment that promises easy money. If it sounds too good to be true, it probably is. Second, do your research before investing in any scheme. Look for reviews and testimonials from other investors. Third, only invest money that you can afford to lose.
If you have already invested in TopGain Agencies, there are a few things that you can do. First, you can try to sell your investment to someone else. However, this may be difficult, as most people are aware of the risks of Ponzi schemes. Second, you can contact the Kenyan government’s financial regulator, the Capital Markets Authority (CMA). The CMA may be able to help you recover your money.
TopGain Agencies is just one of many Ponzi schemes that have been making the rounds in Kenya. If you are considering investing in any scheme, be sure to do your research and avoid anything that sounds too good to be true.