Was Boospal a Ponzi and Fraud? Will they come back?

This morning, I woke up with a lot of messages that Boostpal’s website and Facebook page were both missing.

It’s usual for a website to go down temporarily but for the Facebook page to go down too, that’s quite suspicious.

One Eminent guy on WhatsApp, who claims to be the Boostpal rep for Ghana (although such rep didn’t exist when I checked 3 days ago) claims the Facebook page and Website are down for “upgrade”.

Update: The Facebook Page seems to be back up.

Is Boostpal’s Address real?

On the official website for boostpal, they are listed at “35 Old Gloucester St, Bloomsbury, London WC1N 8AX, UK, London, United Kingdom”.

Although some might claim it is a virtual office, this even goes further to assert the notion that they may just be playing with people.

Also, when you check boostpal’s bio, they claim they are present in San Francisco as well. The website sadly does not provide any further details of where exactly in San Francisco they are.

Beware if you want to invest in a company that does not even tell you exactly where they are located at.

Online Presence and Website

For a company that deals with money, you would expect them to have a good website and quality social media channels.

They can not even be seen on LinkedIn or Twitter, and their Facebook Page (which is now missing) was filled with complaints from other countries.

Can the government or any institution in Ghana help you if boostpal runs away?

The short answer is “No”. Boostpal is not registered in Ghana and a search on the Financial Conduct Authority website of the United Kingdom shows that they don’t even have the license from FCA to operate as an investment entity.

No one will help you because to the laws of Ghana, the business doesn’t even exist.

Will Boostpal come back?

Boostpal will definitely come back with another name after some time. This new company might tell you how different they are and try to look more real.

They definitely won’t come back as the same Boostpal. However, if they do they will name themselves something else.

This means all your previous investments and earnings may never come back with the new company.

However, in the unlikely situation that these “upgrades” are true, they may just be coming back to milk out more people.

Beware.