They watched helplessly as their money was used to trade in crypto and forex.
By most accounts, the Managing Director/Chief Executive Officer of Racksterli Limited,CHIDIEBERE MICHEAL OTI AKA BLACK GOLD , was a persuasive, silky smooth operator who promised huge pay days, investment capitals and brand new cars if you took a chance on him.
CHIDIEBERE MICHEAL OTI AKA BLACK GOLD has successfully defrauded Nigerians over 400 Billion Naira, your reading correctly 400 Billion Naira.
Racksterli.com was set up by CHIDIEBERE MICHEAL OTI AKA BLACK GOLD promising Nigerians that it was a legitimate business and that they deal in Crypto, forex, real estate e.tc all those bullshit stuff they usually say to take your investments and cover their Ponzi scheme, and he used a lot of celebrities to promote his platform directly and indirectly. Celebrities include Davido, Ogunleye Olamide Babatunde aka Oluwadolarz, Nancy E Isime, Diane Russet, Williams Uchemba, and many others.
Celebrities should know how much influence they have on their fans and should always try not to lead fans into Ponzi schemes. Most People joined this platform because of the validity their celebrities helped to portray this platform look like a legitimate investment.
What business gives a return of investment of 56%? lol I’m sure many with common sense can see this is a scam from far away, regardless over 500,000 Nigerian joined this platform and got their money stolen as I will explain below.
Olamide Babatunde aka Oluwadolarz being used a brand ambassdor for Racksterli.com
CHIDIEBERE MICHEAL OTI AKA BLACK GOLD AGE
CHIDIEBERE MICHEAL OTI AKA BLACK GOLD & Williams Uchemba
What is Racksterli
In their own words, Racksterli.com provides people with the opportunity to take advantage of the internet and turn our everyday social media into a tool for making passive income.
Racksterli offers users eleven subscription packages. They’re proportional to the wages earned by racksterli subscribers. The eleven subscription packages are
- standard package: 14,000NGN.
- premium package: 28,000NGN
- platinum package: 56,000NGN.
- gold package 112,000NGN
- Diamond package for N280,000NGN
- Ruby package for 560,000NGN
- Emerald package for 1,120,000NGN
- Pearl package for 2,800,000NGN
- Jasper package for 5,000,000NGN
- sapphire package for 10,000,000NGN
- Topaz package for 20,000,000NGN
A lot of Nigerian youths were lured into this platform and expected to make a profit from their investments, some of them are students, workers, widows, orphans who due to the current situation of our Country Nigeria were forced to invest their money in racksterli.
Like every Ponzi scheme, some people will get paid and 99% of investors will lose their money.
As of March 2021, Black Gold stopped paying investors. He announced to subscribers that they should not panic and that the capital they invested was safe and they will get their capital soonest.
A few weeks passed, investors were still waiting for their capital, Black Gold then made another announcement that most of their investments aren’t liquidated and it will take some time to sell of properties they purchased.
After all said and done he didn’t refund up 10% of investors their capital rather he created a new platform Dev.racksterli.com and told old subscribers to key into the new platform with an equivalent amount they invested in order to get their capital back.
That is Ludacris’s right, who will foolishly fall for a scam like that again, well Nigerians did Many investors reinvested an equivalent amount in order to get their initial capital back. As of June 2021, Black Gold unfollowed his racksterli Instagram page and stopped updating investors for over a week.
Subscribers noticed he was gradually dissociating his personal life from Racksterli and began to panic. Over 500,000 members Joined his platform, insiders sources claim he has over 400 Billion Naira in his Bank account and he is refusing to sell his assets to pay back investors. Some investors started reporting to authorities since he refused to pay them.
Black Gold Spends Investor’s money lavishly. He purchased a mansion worth over 1 billion Naira, A Gwagon roughly 80 million Naira and he associates himself with high profile influencers.
Black Gold is a very proud scammer and on multiple occasions, he has prouded himself of accomplishing a feat no Nigerian has ever done and he doesn’t seem perplexed by the constant death threats by investors to refund their money.
Black Gold GHASTLY ACCIDENT
Investors have decided to take legal actions against Black Gold, If you are an investor that was affected, Join this Telegram group below in the Legal Battle to get Black Gold to refund your Money
OTI MICHEAL CHIDI (BLACK GOLD CEO OF RACKSTERLI) HAS DEFRAUD THOUSANDS OF NIGERIANS OF THEIR HARD EARNED SAVINGS. HE SHOULD BE HELD ACCOUNTABLE!
APPREHEND OTI MICHEAL CHIDI ( BLACK GOLD) CEO OF RACKSTERLI