Founded by Sagicam, MoneymanAfrica, or Money Man Cameroon, is an online pay-to-click system that promises Cameroonians huge profits if they invest their hard-earned income in the scheme. This article reviews Moneyman to see if the program is legit or a scam.
What is Moneyman Cameroon?
Getting paid to click on online ads may sound like an easy way to make money but can also lose money. Online paid-to-click (PTC) programs often promise investors a share of the program’s profits to pay an upfront fee or buy products.
How Does Sagicam Moneyman Cameroon Work?
For example, Moneyman claims you can share its profits if you buy “ad packs” or other advertising products. Moneyman Cameroon PTC program also promises you advertising services such as displaying your ads on their network or guaranteeing traffic to your website if you become a member or buy their ad packs. They might even promise to share their profits with investors who have nothing to advertise – simply buy the ad pack and share in the profits.
Before purchasing a membership or any advertising product from a PTC program, be aware that some PTC programs may be scams. Don’t let your guard down just because a PTC program claims it is not an investment scheme. Like Chymall, Moneyman Cameroon is a Ponzi scheme; where money from new investors is used to pay fake “profits” to earlier investors.
See Also: Legit Moneymaking Apps in Cameroon.
Is MoneyMan Cameroon Legit or Scam?
According to multiple reviews, Moneyman Cameroon is a scam and is not legit.
The following red flags are all present in the Moneyman Ponzi scheme:
- Easy money. Be skeptical if you are offered high returns for merely purchasing products or for trivial tasks such as clicking on a certain number of online ads each day. Any investment opportunity that sounds too good to be true probably is.
- Required upfront payments. Be wary if you are asked to pay money upfront to participate in a PTC program, even if it’s supposedly for a membership plan or product purchase. Why would a company require you to pay a membership fee or buy a product for the “opportunity” to click on ads?
- No revenue from genuine products or services. Ask to see documents, such as financial statements audited by a certified public accountant, showing that the PTC program generates actual revenue from selling products or services. If the PTC program has no payment from customers other than its own members, any returns you receive are likely from other investors’ buy-in fees. Moneyman has not been able to show this.
- Withdrawal problems. If you have trouble withdrawing your money or are required to reinvest your profits, it may be because there is not enough money coming in from new investors to cover earlier investors’ withdrawal requests.
Read Also: How to Make Money Online in Cameroon for Students and Job Seekers.
COMMENTS