Studentswallet: An Investment Or A Ponzi?


So late last year, around 28th of December, I heard about an investment platform with the name “StudentsWallets”. After that, I tried doing a little digging/verification on them and then realized, I couldn’t get anything except their Facebook page. I scrolled through, trying to read about them, but little was made known, only jokes and few stories that looks like “testimonies”. But I wasn’t convinced about that and still had my doubts regarding them, but still I decided to figure things out myself. So I got on their website, took my time to read the terms and conditions and see how it goes. So I invested N100,000 in N60,000 (being the maximum for a wallet) and then another N40,000. According to the “Terms and Conditions”, the deposit was supposed to be approved 48hours max, but till now, it’s still pending, after having submitted all necessary details. A week after I made the deposit, I decided to log in to my accounts and to my greatest surprise, both deposits were still pending. So I decided to go to their Facebook page to make a complain about that, but then realized, your messages would have to be approved by one of the admins for it to be visible to others, but the crazy part was, it never got approved so it wasn’t posted on the page. So I chose to use the reply button instead by replying to one of the posts made by one of the admins and then got off Facebook because I don’t even get on there anymore until this whole issue. So the next day, I got on Facebook to see if I got any reply from them, but to my surprise, I had been removed from the group, instead of getting a reply. That really got me mad, like how would you do that to someone who invested in your company Someone made complaints severally, but none of you replied or fixed the issue and instead of replying to him, you chose to block him from accessing the page. Like is that how you treat your investors? So I was convinced there were others like me also that were treated the same way. So I chose to send a direct message to all those with the “admin” tag on their posts, but only one of them replied, all others chose not to. I tried chatting the admins on WhatsApp also, but none still replied. So I explained all what happened to the one that replied me on Facebook and told him that “I want out” of the platform because I lost faith already. He tried begging me and tried convincing, promising to link me up with someone that can help, so he gave me a number and said I should call the person. I did as said and called the person, told him I want a refund and that I was done with the platform. He said ok, asked for the email addresses I used in registering and I gave him and he promised to credit me soon. I waited for days and got nothing only for him to try to convince me not to give up on the system, but I told him I made up my mind already and nothing would ever change that, and to my surprise, instead of getting an alert, he chatted me saying he also isn’t an admin and afterwards, I got a WhatsApp notification that I was added to a group, in the group were others and all they did was make fun of me. I left the group, chatted the guy and told him he just bit more than he could chew and if that was how they have been treating others, mine will be the one they’re going to regret ever doing. So the reason for all the epistles is this, please, if you are thinking of investing with them, right now is not the best time for that, because there is lawsuit coming their way. Their account will definitely be frozen during the trial, so to avoid any inconvenience, please just put that on hold for now. Thanks! Before anyone asks why I invested since I couldn’t find anything on their page, well I did because they have a verifiable address. For those that would say getting a refund is not possible, well I’m sure you read the part I said I read the “Terms and Conditions” well and there was nowhere it says “No Refund”... NOTE: I have pictures to back up all what I wrote.

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