6.7M Owed After Ponzi Scheme Crashed; Entertainer Life Threatened

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.

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.



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