Possibility of another Ponzi scheme disguised as trading

A page on social media has been stating that investing MVR 22,000 will net at least MVR 90,000 in profit.

Can this be seen as a guarantee? Can a forex trader say this with such certainty?

As something such as this is being advertised on a large scale, any inconsistencies should be looked at.

An individual experienced in the financial sector stated that this looks like a "big scam". GMCE or GEMCUE had run a scheme in the past where they claimed a seven percent profit. Now, a page known as AF Options is running a scheme advertising a five percent profit.

The individual said that a small number of people can profit from such schemes, but running schemes while giving such a guarantee to a large number of people is something that cannot be done. The individual also highlighted that such schemes are run on Telegram, with the application being an unregulated platform.

Trading via cryptocurrency is akin to taking a "chance". Very few people are able to make massive profits from this daily. A lot of experience is needed in order to be successful in this line. It is not something that can be done so easily.

Trading is done by looking at certain signals and investing after following specific patterns. Sometimes, unforeseen circumstances tend to bring about major losses, sometimes losing all the money that was invested. This is why this is seen as taking a chance.

The scheme that is currently being promoted states that if an individual does not see any profits, the funds invested in 14 days will be deposited back into the individual's account. It also states that deposits will be made to certain accounts at certain days of the month. 

AF Option's advertisements from other schemes have a "disclaimer" in a small font at the bottom. It states that if people lose the money they invest, they will not get it back.

An individual involved in trading stated that investing in such schemes should only be done by people who really know the ins and outs of trading. As there is a large profit guaranteed from such transactions, transactions in Forex trading are done with major risks involved.

The AF Options scheme, which has been newly introduced on X, is being advertised on the X account of former Parliament member Alhan Fahmy.

In the past, his company Kings Capitals Holdings introduced investment schemes against the law, with many people submitting a case to the police and court regarding funds being taken from them. However, the charges placed by the Prosecutor General's Office after the police's criminal investigation have been dropped. 

The Prosecutor General's Office stated that the charges were dropped due to the funds being given back to those who were victims in the case. It is being said that those who had not submitted cases to the police still have not received their funds.