Ponzi scheme crashes, thousands of Jamaicans swindled out of millions
Roughly 50,000 Jamaicans are said to have lost millions in a new Ponzi scheme which crashed on January 29, after operating for a little over a year.
The unsuspecting investors can be heard openly sobbing in a member-only social media group, in the aftermath of the ‘Warner Media Jamaica’ meltdown. Some could be heard begging for the return of monies they say they had borrowed in hopes of creating a better life for themselves and their families.
“Please unuh duh, gimme me back. Lord have mercy. A people money mi borrow,” cried one woman believed to be in her mid-50s.
The losses range from $7,500 to as much as $3 million per individual.
The Observer Online understands that Warner Media Jamaica is the spin-off of an entity, Get GXL, that allegedly defrauded thousands of people in Trinidad and Tobago last year.
More details in Wednesday’s Business Observer.
