Revealed: Bad Investors Crashed Racksterli Investment Scheme

Here’s my rationalism on everything that’s transpired in the last three weeks, and, more importantly, yesterday March 26, 2021.

Disclaimer: I am not in any way affiliated to BG, or know anyone in the inside caucus. I am just an investor who believed so much in Racksterli. I am making this write-up based on my knowledge of syllogism (Logical Sound Reasoning?

On the 26th of March, 2021, the CEO of Racksterli suspended all activities on the platform in order to clear up the backlogs of cash owed to investors. After much consideration, the company decided to refund back to investors, the Capital they invested in the company.

But, this decision wasn’t entirely the making of the management of Racksterli; investors contributed severally to it all.

Like I have repeatedly maintained in the past, 90% of people who invested into racksterli are bad investors with poor mentality, and thinking.

These people do not understand the movement of money, assets and Liquidity, and rules of inflow and outflow in finance. These people are the majority and these really battered the image of Racksterli.

These people helped fueled rumours and baseless stories against Racksterli, promoted false information, and helped spread the propaganda machine of scrupulous elements within the company.

As at the time of writing this piece, I asked myself: what more were these Bad investors going to write about now? Are they now at peace?

Most people (Investors) felt and thought that Blackgold was the owner of Racksterli; but, in the real sense of it, investors owned Racksterli?

Now, has it ever dawned on you that BG was merely a Director or Chief Executive Officer of the company? Racksterli is nothing without the investors, because it’s the collective funds from the investors that Racksterli uses to trade and make dividends for the investors.

But, of course, most people never realised all of these. It’s been from one pressure to another pressure; from one complain to another complain.

Ask yourself: what do you have now to complain about? Did it ever occur to you that those running Racksterli on behalf on investors are human beings like us – the investors?

When Racksterli Website crashed, rumours circulated that Racksterli, as a company, had crashed. Did it ever occur to you investors that the website was cyber attacked? Of course, nobody cared to know or understand with the company.

People, including most investors, began circulating false information that Racksterli had crashed, BG was in the run, CEO was wanted by EFCC for N100 Billion Fraud, and that CEO had disappeared and relocated from Nigeria.

Two Days later, investors started fueling more false information that Racksterli lost N27 Billion to hackers, another N15 billion to Trade losses, and that CBN freezed Bank accounts belonging to Racksterli. These were baseless stories without facts or evidence; yet, who helped fuelled and spread them? Investors.

The entire team, ranging from the CEO down to the workers, worked tirelessly day and night without rest to get the site back up and running; did we ever appreciate them for all of these? No.

What did we do? We started spreading even more damaging reports that Racksterli was dead and gone.

I even read stories that Racksterli was only trying to save face in order to hit investors hard and abscond with their cash. How myopic most people were, Sad!!!

After 7 days, Racksterli website – – was back online; while few people celebrated, the bad investors and the rumour mongers began spreading even more narratives. They did not even give the team breathing space. What became the order of the day?

Read some of their major complaints below:

1. “I cannot login ooo, what’s happening?”. “I am getting invalid user response, what should I do?”. “I tried to login, but it’s telling me User data not found”. “I am getting invalid password message”.

2. “What’s happening, I can access my dashboard; it’s telling error 533”. “Oh my God, help ooooo, I am seeing server error; am I the only one experiencing this?”

3. “What’s wrong with Racksterli, why can’t I register new downline?”. “I can’t share posts ooo, what is happening?”. “I can’t cashout, God why me?”.

4. “My cashout date was extended by extra 30days, please help”. “Why can’t I verify my bank details?”. “Cashout Button didn’t turn green today, what’s happening?”. “I think Racksterli is broke ooo, who are they paying self?”.

5. “I clicked on cashout yesterday, but my dashboard has not been cleared; what’s happening?”. “I dashboard was cleared since one week, yet no alert”.

6. “Racksterli is broke, they should just come out and tell us the truth”. “Why is it that only special people are getting paid, what of others?”.

7. “Please, Racksterli should just give me back my capital, I don’t need the interest again”. “Why is Racksterli not paying?” “Who has been paid today?”

8. “What’s happening oooo, refund my money oooo”. “I collected loan to do Racksterli, I can’t lose my Money ooo.”.

9. “I invested with my school fees”. “I invested with my house rent”. “I promised my parents this or that, Racksterli please pay me my money”.

Take it or leave, bad investors helped destroyed this Racksterli investment platform, and not the management of the company.

When Racksterli website crashed and was Offline for 7 days, there were pressures; when the website came back online, the pressures tripled.

Racksterli had backlogs to settle, and these backlogs marked the beginning of the end for the company. With each passing day, the backlogs continued to increase; everything piled up.

Two options were on the table: pay everyone off, or extend the cashout date for every investor. The company tried her best, but like you all know, no matter what you do people were never satisfied.

Racksterli tried to savage the situation, but just like BG admitted in his live Instagram video on March 26, 2021, there was nothing else to be done.

Remarkably, do you know that during these challenging, Racksterli continued to pay investors their earnings? Yet, the pressures continued to mount and mount and mount on the team.

A decision, a very radical one for that matter, needed to be made; and on the 26th of March, 2021, the CEO of Racksterli officially decided to shut down the platform and refund all investments back to investors.

This felt like the end for Racksterli investment platform, but do you know that it equally marked a new beginning into exciting frontiers for the company?

The announcement regarding the shutting down of the company brought calm, serenity on social media. For once, the entire team could rest, breathe, and enjoyed a life devoured of pressure, speculation, and fake news mongers.

But, you need to know: Racksterli investment platform is dead and buried; you wished for it, you yearned for it, you clamoured for it, and your wishes have been granted. Congratulations!!!

Here is a consolation for the very few Investors who supported the company till the very end: Racksterli, as a brand is far bigger than anything else, and it lives on.

Racksterli is coming back again, but not in the form that you already know. Racksterli had Money on ground, Racksterli refunded capital back to every Investors. The refunding process officially began on the 28th of March, 2021 and lasted for a 30-day period.

So, ask yourself this question: mention one investment platform that refunded back investors fund after crashing or shutting down?

Only one investment platform can successfully do this, and only Racksterli investment platform successfully refunded Capital back to their investors.

We need to salute the courage of the company; we must commend them for their transparency, humility, sincerity, and honesty.


  1. Newsbeat March 28, 2021
  2. UMEOKAFOR March 28, 2021

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