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Pennywise Wealth Management: An Investigation

From this, we were able to connect the pennywise website to several others on the web. One of such was acrofundinvestment[.]com and even the text used in both sites were similar, the only difference was the company names.

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Our community members recently drew our attention to a so-called Investment Management firm called Pennywise Wealth Management. The following is a summary of what our intelligence team discovered upon visiting their site (pennywisewealthmanagement[.]com).

We observed that they promised to pay as much as 3% of a depositors investment daily.

Upon noticing the high interest rates promised and intrigued to know how this was being achieved, we went to their “How it works” page on their website. There they made numerous claims such as:

“Through trading desks in Calgary, Houston, London and Singapore, We have access to round-the-clock coverage of a broad array of physical and financial commodity products.”

“Located across four continents, our equity specialists can help you access more than 90 markets around the world. Our equity specialists have access to both cash equities and derivatives, letting us implement tailored strategies through a single point of contact. As well as our market-leading execution capabilities, we are able to provide margin finance secured by our equity portfolios which gives us a very high returns.”

These are quite lofty claims. A company with such global reach and presence should at least have an office address in places where they operate. We find no address on their contact page. Also, there is no list of company employeers or a management team. From what the company says about itself it wouldn’t be a streach to expect such information as company address and management to be readily available . The absence of these two important details was indicative of something sinister.

Next, we looked at the domain records and discovered that the domain is two years old.

The above pictured domain details are important because of the claims made on their website. See below.

“At Penny Wise there are no outside owners, and therefore, no conflicting loyalties. The company is owned by its funds, which in turn are owned by their shareholders—including you, if you’re a Penny Wise investor. Our unique client-owned structure allows us to return profits to our investors in the form of lower expenses. Low costs helps our clients keep more of their returns, which can help them earn more money over time investing with Pennywise Wealth Management.”

Since they have no outside owners and operate a client-owned structure, how were they able to build a global reach in just 2 years? Investigating further, we noticed they had a privacy policy on the footer of their website.

Clicking the link took takes one to their Privacy Policy Page, there it had contact information for Owner and Data Controller.

Looking up this address on Google, it shows that it belongs to Standard Chartered Bank, United Kingdom.

The red flags thus discovered prompted a study of the structural make up of the website and source code. From this, we were able to connect the pennywise website to several others on the web. One of such was acrofundinvestment[.]com and even the text used in both sites were similar, the only difference was the company names. See below.

Acro Fund Investment
Pennywise Wealth Management

Here are other domain names we found connected with the two above:

  • bluechipbond.com
  • gwwcooperation.com
  • pennywiseweallthmanagement.com
  • pennywisewealthmanagement.website
  • bitclubcapital.com
  • postcovid19investment.com
  • bitmainglobal.com
  • goldpalminvestment.com

From the foregoing, we can deduce that this is a carefully orchestrated fraud scheme. Furthermore, it appears that probably some (if not all) of the perpetrators reside in the city of Portharcourt as several lines of evidence point to this.

First, aside the Instagram handle listed on the Pennywise Wealth Management website, we were able to unearth their Facebook page. Below is a screenshot showing their Ad account with both handles

The Ad account had only two ads deployed. See below.

Searching google for the phone number “08035216067” listed on the above ad led to a service run by a “Wealth Producer” in Port Harcourt. See below.

The second line of evidence pointing to Port Harcourt is what appears to be a name found in the source code of bitmainglobal[.]com which is one of the domains listed above.

A google search of this name led to a Post UME list from the Rivers State University of Science and Technology which is also located in Port-Harcourt

The third line of evidence is from bluechipbond[.]com, one of the domains listed above. Looking at the domain record, it shows that it is just over a month old

Upon searching on social media, only one Facebook group was promoting this website. Looking at the group members, it had only one admin whose residence is listed as Port Harcourt.

In conclusion, we advise the general public to not conduct any form of business with the above-listed domains. Furthermore, anyone who has funds to invest should always make sure that the entity they are going to hand over their funds to is duly registered with the appropriate authorities in their country of operation.

More To Explore

161 Responses

  5. What about bitland.pro cloud mining site is it safe? I have already led someone to invest in this pennywise and site isn’t opening for days now

    Reply

    1. We’ll pass it on to our intelligence team, but due to the large requests we get, we might not be able to do an indepth investigation.

      Thank you for reaching out to us.

      Reply

  7. I can’t login to the site anymore they promise us 21st of this month but nothing has happened ,please I want to know if we are still safe here

    Reply

    1. We’ll pass it on to our intelligence team, but due to the large requests we receive, we might not be able to do an in-depth investigation.

      Thank you for reaching out to us.

      Reply

    1. We’ll pass it on to our intelligence team, but due to the large requests we receive, we might not be able to do an in-depth investigation.

      Thank you for reaching out to us.

      Reply

    1. The first thing is not to beat yourself up, we all make mistakes. The next thing is to set aside time and see what you can learn from the situation, such as what made you susceptible to the scam, and what you could have done differently. Also, ask yourself if there were warning signs that you chose to ignore. Think about these things critically, then read up about various types of digital fraud. Don’t forget to warn others using your experience as an example.

      Reply

  15. Pennywise is a scam… I invested $250 there and they have shut down the site after paying management fee. Why is this country cursed this bad???? Nothing anyone can trust again!

    Reply

    1. Oh my God!!! ? ? ? ? ? ? what a world??? Another set of scammers has scammed us again??? What will one do or who will one trust on earth anymore??? If u no hustle dem say u dull, if u wan hustle, hustle go hustle u again, na wetin na??? Can’t believe I just lost a huge amount of dollars to those fraudsters. Seriously done with the lesson I had learnt personally from this internet stuff jor, Had it been this investigation came on before time, it would have save many investors from investing, now its too late, we strong, what is it that doesn’t kill u, makes u stronger. Hear the voice and cry of an orphan Lord. Amen

      Reply

    1. We’ll pass it on to our intelligence team, but due to the large requests we receive, we might not be able to do an in-depth investigation.

      Thank you for reaching out to us.

      Reply

    1. We’ll pass it on to our intelligence team, but due to the large requests we receive, we might not be able to do an in-depth investigation.

      Thank you for reaching out to us.

      Reply

    1. We’re sorry about this. Don’t beat yourself up, we all make mistakes. The next thing is to set aside time and see what you can learn from this situation, such as what made you susceptible to the scam, and what you could have done differently. Also, ask yourself if there were warning signs that you chose to ignore. Think about these things critically, then read up about various types of digital fraud. Don’t forget to warn others using your experience as an example.

      Reply

      1. I invested $1200 and earned $973 I was allowing it to mature more before I could know it, they’re gone! I’ve lost over N1m.

        Reply

        1. Lost the savings for my car with them. please kindly help check on omegapro too, whether they are also criminals. Thank you 08054675164

          Reply

  26. hmm, thanks so much though came late. although it payed my referee to an extent,but now off.

    my question is, which domain link is now the real PENNYWISE that u can advise. at least fake means there is original.

    Reply

    1. It didn’t come late, this investigation was published on the 1st of August, PennyWise hadn’t shut down yet. Also, there is no real PennyWise, and if you’re looking to invest check with the Securities and Exchange Commission.

      Reply

  30. I can’t break this news to my boss. He has gone through a lot. He invested before telling me. This is bad for his health. Thanks

    Reply

    1. We’re sorry to hear this. The first thing is not to beat yourself up, we all make mistakes. The next thing is to set aside time and see what you can learn from the situation, such as what made you susceptible to the scam, and what you could have done differently. Also, ask yourself if there were warning signs that you chose to ignore. Think about these things critically, then read up about various types of digital fraud. Don’t forget to warn others using your experience as an example.

      Reply

  32. Hope this is the first and last Ponzi scheme I fall for because I invested 700usd and management fees. Hmmm.

    Reply

    1. We hope so too, follow our social media handles @nogofallmaga, on Facebook, Twitter, and Instagram and learn tips that will keep you safe.

      Reply

  33. I am already in trouble. I have invested $200 with this company and their site has been closed.. what a world???

    Reply

  34. Many thanks for these revelations, I was still looking for a way to raise cash and invest in Pennywise before hearing the news today

    Reply

  36. I will still remain close mouthed till next month, although the information here mainly looking at it they are many clear evidence that penny wise wealth management is a scam,
    This is my first time of being a victim over scammers but not much because I have eaten the money I invested, the even paid me two days before the website close.
    If they open all glory to God
    If they didn’t we still thank God
    But is too bad of this country

    Reply

  38. Someone referred me to pennywise, I invested 700 dollars and now the site has been closed…..I’m just confuse right now

    Reply

    1. The first thing is not to beat yourself up, we all make mistakes. The next thing is to set aside time and see what you can learn from the situation, such as what made you susceptible to the scam, and what you could have done differently. Also, ask yourself if there were warning signs that you chose to ignore. Think about these things critically, then read up about various types of digital fraud. Don’t forget to warn others using your experience as an example.

      Reply

  40. Hmmmmmm…..I invested a lot on this I even paid maintenance fee which I hv never withdrawn even 1s ooo

    Reply

  41. I and my 4 down lines who just registered lost our hard earn money in this..I lost 300$ in this,2 of my down line’s even borrowed to invest..even with our management fee paid..I will never be well with them.Still watching them.

    Reply

  43. Please I am about to invest in a scheme called Tradera. Can you do a little background check on them for me? Thank you!

    Reply

    1. Good day,

      thank you for reaching out to us. Due to the volume of requests we are getting, we may not be able to investigate the website you listed, but it will be forwarded to our intelligence team.

      In the meantime, kindly read our guide on detecting investment scams. It will help you determine if an investment platform is legitimate or fake. The link is below.

      https://nogofallmaga.org/a-guide-to-detecting-investment-scams/

      Reply

    1. Good day,

      thank you for reaching out to us. Due to the volume of requests we are getting, we may not be able to investigate the websites you listed, but it will be forwarded to our intelligence team.

      In the meantime, kindly read our guide on detecting investment scams. It will help you determine if an investment platform is legitimate or fake. The link is below.

      https://nogofallmaga.org/a-guide-to-detecting-investment-scams/

      Reply
  46. Pingback: Pennywise Wealth Management Site has Disappeared, Investors Cry

    1. Good day,

      thank you for reaching out to us. Due to the volume of requests we are getting, we may not be able to investigate the websites you listed, but it will be forwarded to our intelligence team.

      In the meantime, kindly read our guide on detecting investment scams. It will help you determine if an investment platform is legitimate or fake. The link is below.

      https://nogofallmaga.org/a-guide-to-detecting-investment-scams/

      Reply

  49. Hello,
    Please can u carryout an investigation on this site digitalallianceaps.com.
    It’s also an investment program just like penny wise and they claim to be in existence since 2014.
    Thank you.

    Reply

    1. Good day,

      thank you for reaching out to us. Due to the volume of requests we are getting, we may not be able to investigate the websites you listed, but it will be forwarded to our intelligence team.

      In the meantime, kindly read our guide on detecting investment scams. It will help you determine if an investment platform is legitimate or fake. The link is below.

      https://nogofallmaga.org/a-guide-to-detecting-investment-scams/

      Reply

  51. I suspect they are going to shut down and but I was pained because I invested 105$ and referred someone to do so and he spent about 80 to invest and pay management fee. I was reluctant to pay the management fee but my friend persuaded me to pay because I have pending withdrawal and I should not allow them to block my account. I was not greedy because I told my friends not to invest too much because they are not safe.

    Reply

  53. Thank you so much for the detailed information concerning this matter… I nearly invested my money bcos a friend of mine was putting me under pressure to do so… Please.. kindly investigate doxora and crowd1… Thanks

    Reply

    1. Good day,

      thank you for reaching out to us. Due to the volume of requests we are getting, we may not be able to investigate the websites you listed, but it will be forwarded to our intelligence team.

      In the meantime, kindly read our guide on detecting investment scams. It will help you determine if an investment platform is legitimate or fake. The link is below.

      https://nogofallmaga.org/a-guide-to-detecting-investment-scams/

      Reply

  54. Please what about Piggyvest?
    I’m on the verge of committing my entire life savings with them.
    I really need to know if they’re totally legit.

    Reply

  56. So, this people are fake… It’s quite unfortunate that my $207 is gone to this internet robbers .. Na God go pay them….

    Reply

  57. PLS HELP INVESTIGATE HIKANOS.COM AND ADDYFX.COM. I DON PUT PLENTY MONEY FOR THEREOOOOOOOOOOOOOOOOOOOOOOOOOO. EDUMARE HELP ME.

    Reply

    1. Good day,

      thank you for reaching out to us. Due to the volume of requests we are getting, we may not be able to investigate the websites you listed, but it will be forwarded to our intelligence team.

      In the meantime, kindly read our guide on detecting investment scams. It will help you determine if an investment platform is legitimate or fake. The link is below.

      https://nogofallmaga.org/a-guide-to-detecting-investment-scams/

      Reply

  59. Everything about internet networking is all scam including this platform,one should go back to buying and selling o, forget this people

    Reply

  60. It was obvious that it was a scam but many people like myself ignored the warning signs. Greed is really crazy.

    Reply

  62. Thank you so much.
    This is an eye opener.
    I actually wanted to invest but has this check in me and I decided to check for things in Google. Low and below, here I found this well detailed investigation with points that can only be overlooked to the persons detriment.
    God bless you deeply.
    I will warn others

    Reply

  63. I want to speak with the owner of this website,I have a very confidential information that may further aid this investigation. Please can I be reached via my email?

    Reply

  66. Hmmmm, it hurts to see this review when its probably already too late. I invested 230k for myself and 220k for my lady and we barely even made anything out of it plus the maintenance fee we paid before it went down. Its well though.. I knew it was too good to be through, but I was convinced its was legit because my neighbor was involved too n was cashing out.

    Reply

  68. Please come trade.com is it a scammer(Ponzi)? Cheh! My $5ki s gone in pennywisewealthmanagementadmin.

    Reply

  72. Thanks for this info though I’m already a victim of this because of their claims which I believed to be true.

    Reply

  73. I and my gf lost 165k on this pennywise, and I also refer my cousin and he also invested 80k. Thank God I didn’t money at hand to pay for the maintenance fees, I was eager to pay because of the pending withdrawal

    Reply

  74. Truly I am totally down because I sold what I have and borrowed money to $100 recently but all of a sudden this came up as an option
    But can we ? God! Of course no
    Were as I know that when a door closed, thousands of door likewise open therefore, let’s not loose our faith in God
    Thanks.

    Reply

  77. I’m really disappointed at what I’m seeing now, I never expected it to turn out this way, bcoz of it’s operating system.

    Reply

    2. I am a Victim already but this information came late pls kindly investigate the most recent one Chy
      SARAUIMALL OR CHYMALL.
      PLS this is already taking over the country. So we don’t fall for mggaaga again
      Their webs is chymall.net
      I am already an investor in it. 08037339350

      Reply

  80. You guys have made my day and made me proud to be a Nigerian. Why? Because, I never believed that there are any Nigerian companies that would pay so much attention to detail in their activities. Keep up the good work. If many had come across your investigation beforehand, they would have been saved a lot of heartache. You have saved me in particular because I had always wanted to invest in that company and most reviews I had read did not do justice or completely and satisfactorily answer my questions until I read yours. Up you. Keep it up and thanks again.

    Reply

  81. Hmmmm am already a victim of pennywisewealthmanagement.com and I don’t know how to get my money but please I want to ask you a question please can you give or send me the links or sites of genuine investments site please thanks my phone number is +2348068871432

    Reply

    1. This is medicine after death, before going to investing with pennywise i came on Google asked if pennywise was a scam, all was positive comments and now that they are no where to be found you people are coming to say all these about them, you people should go jor, I personally I don’t need this…

      Reply

  84. I wish I listened to my Sister, I was warned though I felt it was genuine cuz of d person that referred me, Not only did I invest, I had to convince my husband to invest… I wished we never invested in two slots, this so painful..
    The whole money is gone without receiving anything. 😥😥😥😥

    Reply

  86. I was lucky in this scam. I invested $500 and pulled out $3,250 two weeks before they ran away. I have learned my lesson. Great information and investigating! And sorry for all the folks that weren’t so lucky.

    Reply

  87. I’m an investor in pennywise wealth management, my mo ney is still there..how do I get it back now that it has been suspended?

    Reply

  90. Good day.

    May God reward you real good for these timely exposures.

    Please, a friend just introduced me to “loantech.”

    Could you help me investigate their genuineness?

    Thanks a lot.

    Bright

    Reply

  92. Pennywise was introduced to me by a friend, at first i was not convinced but because she is my good friend i decided to give it a try with $1000 after my first one month this fuck site shutdown, they didn’t even allow me to withdraw a penny….Deep down I am not happy at all

    Reply

  94. I was Introduced to Penny wise By A Friend, Some Months Ago, I made An Investment Of About $200 My Account was Running Well, for A Month without making any Withdrawal, Low and Behold Your App stopped working And till Date I Can’t Log Into my Account or Access my Founds, I don’t Want to believe That You a Scammers But I still wait

    Reply

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