Sister's Investment Sparks Alarm | MLM Scheme Promises Too Good to be True
A woman fears her sister is caught in a suspicious investment scheme promoting daily returns of 8.4%. Concerns heighten as her sister, living abroad, resists warnings about the risks involved.
Overview of the Investment Scheme
The worried sibling reports that her sister invested 600 euros, or about one-third of her earnings, into a multi-level marketing (MLM) system. Following instructions, she created a KuCoin account, purchased ETH, and sent it to an address provided by a coworker. She then received a link to a platform called Credo/CredoAI, championed by claims of earning 48 euros per day. Despite being unable to find credible information about the platform, her sister insists she is earning.
New Alarm Bells Ringing
Recent comments reveal further troubling insights:
Withdrawal Issues: "The official account probably shows $0 funds. You’ll face fees when trying to withdraw, only to still find your balance unchanged."
Manipulative Practices: One commenter pointed out, "They pay back on lower levels to lure you into investing more, then vanish with your cash." Others echoed this sentiment, stressing that many notice small withdrawals, only to be met with excuses when they try for larger amounts.
Skepticism about the "Coworker": People are wary about the coworker’s claims of 60,000 euros earned in a few months, suggesting they might be a victim or part of the scam.
"People who fall for this don’t believe any proof against it, unfortunately."
The sister has also reported downtime for the platform, sparking increased concern.
Potential Risks Ahead
If the scheme resembles classic Ponzi operations, the sister is likely to face difficulties withdrawing her money soon. Many in forums estimate up to 70% of participants experience blocked withdrawal attempts, a hallmark of fraudulent schemes.
Interestingly, the investment packages available range from 30 to 24,800 euros, a red flag that raises serious doubts about its legitimacy.
Key Takeaways
🚩 Users Alert: Much like earlier financial scandals, high returns without transparency breed skepticism.
🔍 Withdrawal Concerns: "They'll lure you in with small amounts, but it’s all a facade."
⚠️ Community Warning: "If you can’t access your money easily, beware. You may have been scammed."
The sibling is left to grapple with concern for her sister’s financial safety while warning her of potential pitfalls. Can she persuade her sister to reconsider before it’s too late?