Current Affairs

How To Spot and Avoid A Ponzi Scheme

GRAND BAHAMA, BAHAMAS – In a digital age where fast cash is often just a click away, many Bahamians are finding themselves caught in skeptical situations.

Published

10 months ago

April 6, 2025

Italia Hall

GRAND BAHAMA, BAHAMAS – In a digital age where fast cash is often just a click away, many Bahamians are finding themselves caught in skeptical situations.

Earlier this week, concerns surfaced in Grand Bahama after a financial platform promising big returns abruptly went silent, leaving users feeling like they’ve been scammed. Tonight, one financial expert is offering strategies for building wealth, without the risk of getting burned.

Many Grand Bahamians claim they were abruptly removed from a Whatsapp group used for communication by a platform known as Creators Alliance on Wednesday morning, a move that’s fueled speculation that the venture may have been an alleged ponzi scheme.

Some users say they received payouts, others believe they’ve been scammed as they didn’t receive the money they were promised.

Some question how such platforms are able to operate locally.

Financial expert and CEO of O’Coff Securities limited, N’Nyn Fernander, had this response.

He believes the bigger focus should be on how to legitimately grow your money, starting with investing in yourself.

Fernander adds there’s so many other things people can put their money in, that’s a lot safer.