Updated on December 20, 2023
In Nigeria today, a lot of people are looking for different means to accumulate more money, so they turn to investments. The problem? because a lot of people are looking for investments that promise quick returns they end up losing their money to scam investments. One such scam investment is Cala investment.
This review seeks to clarify the legitimacy of Cala Investment Nigeria by navigating through the details and presenting the facts in simple terms.
What is Cala Investment?
CALA Investment Nigeria, which is different from Cala Investments Limited in the UK purported itself as a technology company specializing in AI research and development. It claimed to operate from Armonk, New York, USA, but evidence suggests this might be a facade. The platform lured investors with promises of auto trading, where Cala robots would handle investments and generate returns.
CALA asserted its incorporation in 2019, but scrutiny of documents on its website revealed a mismatch. Certificates displayed indicated registrations in 2022, raising questions about the platform’s authenticity. Notably, a lack of a certificate of incorporation from 2019 adds to the skepticism.
Is Cala Investment Legit or a Scam?
CALA showcased a SCUML certificate, but does it guarantee legitimacy? Such certificates can be obtained, emphasizing that it doesn’t validate the platform’s authenticity.
The truth is Cala investment is not legit. It’s a scam investment that crashed in October of 2022.
The Securities and Exchange Commission (SEC) database revealed no registration for CALA. A response from the SEC explicitly stated that CALA Fintech Services Limited is not registered, reinforcing the platform’s unregulated status.
More About CALA Investment
CALA enticed investors with a crypto trading model involving the purchase of trading bots. The more expensive the bot, the higher the promised returns. However, there was no credibility to CALA’s claims of using Blockchain and DeFi technology, highlighting discrepancies in their operational model.
Before CALA’s eventual crash, several red flags hinted at its dubious nature:
- Legal Backing Absence: The platform lacked authorization from regulatory bodies in Nigeria, a glaring sign of a potential scam.
- Anonymous Founders: The absence of information about CALA’s founders raised suspicions about the platform’s credibility.
- Negative User Reviews: Numerous users complained about the robots being a scam, emphasizing the importance of heeding user experiences.
Then there’s CALA’s referral system, offering free robots for bringing in new investors, which bears characteristics of a pyramid scheme. The article urges caution, questioning why a platform with profitable robots would sell them rather than utilize them for its gain.
There were so many discrepancies in CALA’s practices from the process of registering on CALA to its claim of automatic trading between crypto exchanges.
There’s no clarity on which exchanges the bots operate as well as Cala’s profit claims in the context of crypto arbitrage challenges.
Wrap up on Cala’s Investment
You must do thorough research before putting your money into any investment. CALA Investment Nigeria is another cautionary tale amongst scam investments in Nigeria,
You should never neglect red flags. You need to prioritize due diligence, verify claims, and choose regulated legit investment platforms to safeguard your hard-earned money.
Remember, in the world of investments, knowledge is your most powerful shield against potential scams. Stay informed, stay vigilant, and protect your financial future.
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