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Tag: ponzischeme

Business 0

SCAMMED by the Blessing Loom

he idea of the blessing loom is similar to that of a ponzi scheme. According to invesopedia, A Ponzi scheme is a fraudulent investing scam promising high rates of return with little risk to investors. The Ponzi scheme generates returns for early investors by acquiring new investors. This is similar to a pyramid scheme in that both are based on using new investors’ funds to pay the earlier backers. They sound pretty much identical!