‘Loom Money’ is Ponzi Scheme, SEC Warns

‘Loom Money’ is Ponzi Scheme, SEC Warns

By Ndubuisi Francis in Abuja The Securities and Exchange Commission (SEC) has expressed concern over the activities of some online scammers, currently running an online investment scheme tagged ‘Loom Money Nigeria’. The target of Loom Money are young people, which the scheme does through the social media, luring them to participate in a pyramid arrangement. […]

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Source: ‘Loom Money’ is Ponzi Scheme, SEC Warns

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