Breaking: Ponzi Scheme Graphene Manufacturing Group (GMG) Has Finally crashed!

Recently, WikiFX received a lot of negative feedback about a company called Graphene Manufacturing Group(GMG). Many victims consider it a Ponzi scheme. And now, some sources claim that this platform has come to an end. But where is the money invested by the victims？

What is Graphene Manufacturing Group (GMG)？

Graphene Manufacturing Group (GMG) was an investment company that claimed to specialize in the production and sale of graphene, a material with high conductivity and strength, as well as various other applications. The company, founded in 2016 and based in British Columbia, Canada, promised high returns on investments and quickly gained a following of investors who were attracted to the potential profits. The main market for this platform lies in Africa. Just like a money-making machine, GMG aimed to double investors funds whenever they put in money.

Is it Legit？

As far as we know, GMG is not regulated by any regulatory authority. This is not a permanent platform, we believe that it will surely crash like others. Many people have raised concerns about the legitimacy of GMG's operations. This lack of regulation makes it easier for unscrupulous operators to take advantage of unsuspecting investors and highlights the importance of working with regulated and reputable financial institutions.

Complaints and The Ponzi Scheme

Some have called the company a Ponzi scheme, suggesting that it used new investors' money to pay returns to earlier investors rather than generating profits through legitimate business activities. These concerns were further fueled by the lack of transparency surrounding the company's operations and finances.

Unfortunately, these concerns proved to be well-founded, and many investors lost money when GMG finally crashed. Reports suggest that the company's operations were unsustainable and that it was unable to generate the profits it had promised investors. As a result, many investors lost their entire investments, and the company's reputation was severely damaged.

According to the report, the website of this investment platform is gmgtrys.com. The domain name will expire on June 24, 2023. The domain was registered on GoDaddy under Domains by Proxy which is to keep the domain owners personal information secret. These signals are enough to prove that people will lose their money soon.

This outcome highlights the potential risks of investing in platforms like GMG. While promises of high returns may be attractive, investors must always be cautious and conduct thorough due diligence before investing. This includes researching the company's background, finances, and operations, as well as seeking advice from reputable financial professionals.

Many investors on social media platforms started to complain that they could not withdraw money from this platform.

The downfall of GMG has also revealed the disreputable behavior of Craig Nicol, the company's CEO. This serves as a warning to other executives and companies that may be considering engaging in fraudulent or unethical practices.

Conclusion

In conclusion, the collapse of Graphene Manufacturing Group highlights the risks of investing in unregulated and opaque financial platforms. Investors must always be cautious and conduct thorough due diligence before investing their hard-earned money. They should work with reputable and regulated financial institutions that prioritize transparency, accountability, and investor protection. The downfall of GMG and the arrest of its CEO should serve as a cautionary tale for others who may be considering engaging in fraudulent or unethical practices. WikiFX warns you of the risk of investing in this broker. Investors should stay away from this Ponzi scheme! If you want more information about certain brokers' reliability, you can open our website (https://www.WikiFX.com/en). Or you can download the WikiFX App to find your most trusted broker.