Saturday, May 28, 2022
DhiDaily - English Edition
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި
No Result
View All Result
DhiDaily - English Edition
No Result
View All Result

MMA Issues Caution Regarding a Popular Ponzi Scheme

Ibrahim by Ibrahim
March 10, 2022
0
Economy Shows Signs of Progress in Q1
0
SHARES
18
VIEWS

Maldives Monetary Authority (MMA) has issued a caution regarding a very popular nationwide Ponzi scheme being done via Social Media channels.

A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from legitimate business activity, and they remain unaware that other investors are the source of funds.

The ‘Forex Trading’ company claims that investors can earn ridiculous amounts of profit within a short period. The Ponzi scheme is currently worth around MVR 30 million according to sources.

MMA has not revealed the identities of the people involved in the scam but has requested banks to take action against the company. It is rumored that the scam is being done by a famous politician’s company.

Tags: MMAPonzi Scheme

Related Posts

UN Urges Maldives to Bring Back Foreign Fighters in Syria
Local

UN Urges Maldives to Bring Back Foreign Fighters in Syria

May 28, 2022
Villimale’ Hospital Under Investigation for Attempting to Administer Expired Vaccine
Local

Villimale’ Hospital Under Investigation for Attempting to Administer Expired Vaccine

May 27, 2022
STELCO Begins Laying Power Distribution Network in Kudagiri Picnic Island
Business

STELCO Begins Laying Power Distribution Network in Kudagiri Picnic Island

May 27, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
The Power of Women’s Leadership, A Powerful Economy

The Power of Women’s Leadership, A Powerful Economy

March 14, 2021
Fire Breaks Out in Vakkaru Resort

Fire Breaks Out in Vakkaru Resort

December 14, 2021
The Defining Challenge & Scandal of Solih's Gov't

COVID-19 & Ventilators: The Defining Challenge & Scandal of Solih’s Gov’t

March 28, 2021
Investigative Journalism is Dead Upon Arrival

Investigative Journalism is Dead Upon Arrival

April 7, 2021
Speaker Nasheed Undergoes Multiple Successful Surgeries

“I Will Not Compete Against President Solih” – Nasheed

1
Cat Strangling Video Receives Backlash

Cat Strangling Video Receives Backlash

1
UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

UK Prime Minister Boris Johnson Reveals His Cautious Lockdown Easing Plan

0
Nasheed Expresses His Concerns and Seeks To Find Answers Regarding The One Room Apartment Project

Nasheed Expresses His Concerns and Seeks To Find Answers Regarding The One Room Apartment Project

0
UN Urges Maldives to Bring Back Foreign Fighters in Syria

UN Urges Maldives to Bring Back Foreign Fighters in Syria

May 28, 2022
Villimale’ Hospital Under Investigation for Attempting to Administer Expired Vaccine

Villimale’ Hospital Under Investigation for Attempting to Administer Expired Vaccine

May 27, 2022
STELCO Begins Laying Power Distribution Network in Kudagiri Picnic Island

STELCO Begins Laying Power Distribution Network in Kudagiri Picnic Island

May 27, 2022
Applications Open for 100 Hajj Pilgrimage Quotas

Applications Open for 100 Hajj Pilgrimage Quotas

May 27, 2022

Recent News

UN Urges Maldives to Bring Back Foreign Fighters in Syria

UN Urges Maldives to Bring Back Foreign Fighters in Syria

May 28, 2022
Villimale’ Hospital Under Investigation for Attempting to Administer Expired Vaccine

Villimale’ Hospital Under Investigation for Attempting to Administer Expired Vaccine

May 27, 2022
STELCO Begins Laying Power Distribution Network in Kudagiri Picnic Island

STELCO Begins Laying Power Distribution Network in Kudagiri Picnic Island

May 27, 2022
Applications Open for 100 Hajj Pilgrimage Quotas

Applications Open for 100 Hajj Pilgrimage Quotas

May 27, 2022
DhiDaily - English Edition

© 2022 Dhidaily

  • About
  • Advertise
  • Privacy & Policy
  • Contact

No Result
View All Result
  • Home
  • Local
  • Reports
  • World
  • Business
  • Sports
  • Entertainment
  • Tech
  • ދިވެހި

© 2022 Dhidaily