Nigerians storm LOOM headquarters to demand for their money

Nigerians storm LOOM headquarters to demand for their money

A new report confirms that some Nigerians stormed the headquarters of Loom in Lagos, yesterday to demand their money after rumours of the Ponzi scheme crashing.

Loom is a Ponzi Scheme which involved a Peer to Peer Method without any visible investment.

When some of its investors stormed their office in Lagos yesterday 15th June 2018,  no staff was on ground to attend to them.

Recall in May, the Securities and Exchange Commission issued a warning to Nigerians investing in the scheme not to.

Mary Uduk, Acting Director-General of the commission said;

“We are aware of the activities of an online investment scheme tagged ‘Loom Money Nigeria’.

“The platform has embarked on an aggressive online media campaign on Facebook and WhatsApp.

“They lure the investing public to participate by joining various Loom WhatsApp groups to invest as low as N1,000 and N13,000 and get as much as eight times the value of the investment in 48 hours.

“Unlike MMM that had a website and the promoter known, the people promoting Loom are not yet known and this pyramid scheme operates through closed groups mainly on Facebook and WhatsApp.

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