Dozens of people throughout Sligo and neighbouring counties have been duped into investing in what turned out to be a Ponzi scheme that has seen them lose thousands of euro. Jessica Farry reports on the scam
A Sligo man is warning people not to invest in what has turned out to be a Ponzi scheme that has left a number of families and individuals throughout the county out of pocket.
The man, who wished to remain anonymous, has told The Sligo Champion he has lost €7,000 to the scheme, after being manipulated into ‘investing’ after meeting an individual who promised lucrative returns for this so-called investment.
However, no returns ever arrived, and the promised profits have never materialised years after the initial ‘investment’ leaving him out of pocket.
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Many of the victims in Sligo were initially contacted through WhatsApp groups, others through workplaces.