BG Wealth Sharing has received another Fraud Warning Alert and this time from the Central Bank of Samoa.
According to them…
The Central Bank of Samoa (CBS) wishes to alert the public to an online investment scheme known as BG Wealth, which has been widely promoted across social media platforms. This scheme encourages individuals to attend investment presentations and join online groups under slogans such as “Join the Crypto Revolution.
BG Wealth Sharing claims to provide guidance on cryptocurrency trading, daily profit opportunities, and financial growth. However, the Samoa Financial Intelligence Unit (SFIU) of the CBS emphasizes that this scheme is not regulated in Samoa, and cryptocurrency or virtual asset schemes are not legal tender. Promotions that promise high or guaranteed returns are misleading and carry significant risks.
The Central Bank of Samoa claims BG Wealth Sharing is not registered in Samoa and being as such can not be audited by the regulators.
They also go on warn Samoan Investors about the risks involved…
– Irreversible transactions: Once money is sent, it cannot be recovered.
– Fake profits: Scammers often show fake account statements or screenshots to lure victims.
– Pressure tactics: Victims are urged to invest more after being shown false profits.
– Withdrawal issues: Attempts to withdraw funds are blocked, with scammers demanding extra “fees” or “taxes” that never result in actual payouts.
This is the 9th fraud warning after: Saskatchewan, Utah, BC, Alberta, Australia, Bank of Tonga, New Zealand and the UK.
Conclusion:
Most people who are promoting BG Wealth Sharing no it’s a scam and are just in it for the network marketing ‘referral’ commissions.
And most of the people who are joining know its a scam as well but are just hoping the make some extra money while the ponzi is still up and running.
In truth most people involved with BG are logging in daily and just watching numbers on a screen get bigger every day:
The problem?
There are more people promoting than there are investing.
The result?
Most of the passive investors are not putting in more than $500 and this isn’t good news for any ponzi scheme trying to stay online the long term.
The Hype Problem?
There are a ton of comments all over the internet that are being created by employees of the bg scam and network marketers claiming they are withdrawing big money daily.
But the only proof that I have seen is from network marketers withdrawing ‘referral’ income from their recruiting all while they pretend it’s passive income.
Eventually once they hit the cap of people willing to invest into it, BG will end up collapsing leaving the majority of passive investors in more losses than gains.
Then the Chinese Scam bosses will start up the scheme using a different name and do it all over again.
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