/w=3840,quality=90,fit=scale-down)
Aaqib Ahmed promised effortless wealth with his ‘Done-for-You’ program, drawing in hundreds of Muslim investors. But it was a Ponzi scheme - one the TRE framework could have flagged early.
Listen to the Article
Aaqib Ahmed promised wealth without work.
“Earn a halal income online,” the UK-based founder of “Muslim Pioneer” posted on Facebook last month. “We do all the work. You just invest.”
Invest $10,000 and you’d earn $700 to $1,000 per month.
With $75,000, you’d rake in $9,000 to $13,000 monthly.
Halal. No banks, no interest. Just passive income from a savvy entrepreneur giving you access to his “Done-for-You” program.
Aaqib presented himself as a business and marketing expert online and in person. Last month, he was a featured speaker at the Islam Channel’s Global Peace Unity festival.
Early enrollees received consistent payouts, and they, in turn, invited friends and family. Aaqib’s program attracted hundreds of Muslims and millions of dollars.
“Just in the last three months, we did over £11 million,” a former associate of Aaqib claimed on a now public conference call.
It was a massive program.
And it was a scam.
Aaqib’s Facebook posts are now littered with demands from furious enrollees asking for their money back. Many victims say they’d ‘invested’ their life savings into the scheme. Subreddits and WhatsApp groups buzz with allegations of fraud.
Many of those affected were ordinary people who could least afford the loss. I've read stories about single mothers, low-income earners, and retirees - all hoping for a way to make a little extra money for themselves and their families.
In a video now circulating online, Aaqib admits it was a Ponzi scheme. The payouts those early investors were thrilled about weren’t coming from profits. They were coming from new signups. When the flow of new money stopped, so did the returns.
Every Scam Is Built on the Perversion of Trust
We trust people who look like us, speak like us, and share our values. But that trust can be weaponized.
One of Aaqib’s marketing pages reads: “Abu Bakr (RA) was a wealthy merchant. Khadija (RA) was a successful businesswoman.” Aaqib framed his scheme as a way to uplift the Muslim community. He wasn’t just selling returns; he was selling safety, faith, and belonging.
And, of course, the promise of effortless wealth.
But the math didn’t add up
Aaqib’s pitch promised a monthly return of 7% to 13%. That’s 84% to to 156% annually.
If you’ve dabbled in investing, you know that a 156% projected return doesn’t just raise eyebrows. It screams “scam.”
In comment threads about Aaqib’s now-exposed scheme, you’ll find familiar advice:
“Get rich quick doesn’t work.”
“If it’s too good to be true, it probably is.”
We’ve all heard those warnings. They feel obvious, like wisdom handed down from parents or teachers.
So why do people still fall for scams?
Because “too good to be true” isn’t specific. It’s vague. What does “good” mean? How much is “too much”?
We don’t need clichés. We need a framework. A clear way to measure “investment” promises against reality.
The TRE Test
I use a method I call the TRE Test to determine whether a pitch is a genuine investment, a job, a speculative gamble, or a flat-out scam. TRE turns “too good to be true” into something measurable.
It looks at three factors:
- Time
- Rate
- Effort
When all three are quantified, the scammy schemes stand out.
Time
TRE’s first question is simple:
- What’s the time horizon?
Real investing is measured in decades. Anything promising especially fast results? Red flag.
Rule of Thumb: If it’s less than five years, it’s not an investment.
Aaqib’s pitch was all about speed. Monthly payouts right after you deposit the money.
It failed the time-frame test immediately.
It wasn’t built for long-term wealth; it was built for quick cash flow to keep the Ponzi wheel turning.
Rate
Over the last century, the stock market has averaged a 7–9% annual return. That’s the benchmark.
If someone promises returns well above that, you should pause. If they promise 10% monthly, you should run.
Rule of Thumb: Projected annual returns above 7% - 9% are suspicious
Aaqib projected 7% to 13% per month. 84% - 156% annually.
At that rate, a $10,000 investment grows to $31,384 in one year and nearly $100,000 in two. In 10 years, it’d be over $1 billion.
- Ask: What’s the projected return?
If it’s over 7–9% annually, be skeptical. If it’s over 15%, it’s probably speculation. If it’s 156%, it’s a scam.
Effort
TRE’s final question is:
If the answer is “a lot,” then it’s not a passive investment. It’s a job.
If the answer is “none” or “very little” then you might be looking at a true passive investment. But the returns should reflect that. Slow growth at the bottom of the 7–9% range. Maybe even less than that.
Rule of Thumb: Lots of effort? It's a job. Less effort? Modest returns.
But Aaqib’s scheme promised sky-high returns with zero effort. That’s not how investing works. That’s how Ponzi schemes work.
The Next Aaqib Will Be Different. But TRE Still Works
There will always be another Aaqib. Another scheme. Another pitch promising financial freedom wrapped in trust, community, and the promise of easy wealth.
The next time someone pitches you a golden opportunity, ask: Does this pass the TRE test?
Because with the TRE test, you don’t need hindsight to spot a scam. You’ll see it coming.
Related Articles
/w=1920,quality=90,fit=scale-down)
Written by Farooq Maseehuddin
Farooq Maseehuddin (MuslimMoney Guy) is a financial educator and writer. He holds both a Bachelor of Education (BEd.) and a Master of Education (MEd.) from the University of Alberta. He's been a high school teacher and Muslim community organizer for two decades.