‘Women Gifting Women’ scam

by patrol

Women Gifting Women or Circle of Friends is a scam that is doing rounds in central Alberta. It is a pyramid scheme which convinces women into believing that their money is going for other women in need. Members join through people they know, through friends, female relatives and other existing members. The scam is pretty convincing that people are duped into it without any doubts. They hand over about $1000 to $5000 with a promise of returns as high as $40,000. As with every other pyramid Ponzi scheme, the victims (except the first members) do not benefit anything, but only lose money.

It is said that about 525 women in the region have been duped so far. Only way to avoid this is to understand that hand over money to someone cannot, in any case, bring you great returns!

(Via Scambusters)

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