Dancehall personality and entrepreneur Nikki Chromaz is living in fear of her life following the crash of get-rich-quick scheme loom.
The “Chrome White” owner took to Instagram over the weekend claiming that she has been receiving death threats after owing JMD $6.7 million following the crash of loom.
Nikki Chromaz has been forced to cancel her appearances around Jamaica.
To make matters worst, her
GoFundme campaign was terminated setup in a bit to refund those owed.
On Sunday, she uploaded a screenshot to her Instagram story sharing one of the threats, asking her over 400,000 followers to keep her in their prayers.
WHAT ARE PONZI SCHEMES?
how does it work?
In a Ponzi scheme the promoter generally has no product to sell and pays no commission to investors who recruit new "members." Instead, the promoter collects payments from a stream of people, promising them all the same high rate of return on a short-term investment.
In the typical Ponzi scheme, there is no real investment opportunity, and the promoter just uses the money from new recruits to pay obligations owed to longer-standing members of the program.
In English, there is an expression that nicely summarizes this scheme: It's called "stealing from Peter to pay Paul." In fact some law enforcement officers call Ponzi schemes "Peter-Paul" scams.