A FINANCIAL scheme promising huge returns and bonuses to financial members if they invest between $1,000 to $4,000 is hitting Auki, Malaita province, by storm.
As a result of the report, the Solomon Islands Financial Intelligence Unit (SIFIU) under the Central Bank of Solomon Islands (CBSI), is calling on the general public to immediately cease any attempts to join this false financial scheme.
A statement from SIFIU yesterday named the scheme as ‘Eagle Advertising Resources Network’ (EARN) and is currently based in Auki.
SIFIU issued the warning following concerns from members of the public about the group EARN which reached SIFIU office in Honiara.
The members of the public are calling for an immediate investigation.
According to SIFIU, the group EARN has a large number of followers located in and around Auki township, with many already investing personal funds of well over $1,000 – $4,000 (i.e. membership fees).
“The investments made are mainly to receive huge promised payouts or bonus payment fees of around $80,000 per member,” the statement said.
SIFIU Director Jimmy Sendersley expressed great concerns about how easy people continue to fall prey to international scammers and to the few local individuals pushing these activities.
“We have learnt that some promised payments to EARN members have already lapsed their dates; these are all just false promises,” Mr Sendersly expressed.
“Once again our people are becoming victims to such money scams and I must remind everyone to stop investing your hard earned personal savings and money into any of these types of get-rich quick schemes,” Sendersley warned.
“Anything of this nature that sounds too good to be true, especially on receiving huge financial rewards for very little investments must be carefully considered before your money is thrown away.”
Mr Sendersley highlighted that according to their investigations, EARN is simply another false financial scheme.
“People in Malaita province and other parts of the country must be careful and their warning is serious.
“SIFIU was able to identify clear red flags indicating EARN as generally operating as a Ponzi scheme and is part of an international fraud program that has made slight changes to its Modus Operandi (ways to convince people to become members).
“If you want more information or advice please do not hesitate to call our unit on 21791,” Sendersley advised.
“We must continue to assist each other and share these information and advice, and further help stop such pyramid and Ponzi schemes from abroad, coming into the country to rip off our good people from their hard earned money”.
