ST. GEORGE’S, Grenada, CMC—The Monetary Intelligence Unit of Grenada has confirmed that it’s actively investigating a suspected Ponzi scheme that has prompted extreme monetary losses for people nationwide.
“When you imagine you or somebody you understand could have been affected, please report it instantly,” mentioned FIU in a press launch on Wednesday.
In accordance with FIU, members of the general public had been promised excessive returns on their investments.
“They had been inspired to recruit others, promising to earn extra by referrals. This can be a basic signal of a Ponzi scheme, the place new traders’ cash is used to pay earlier ones — not from actual earnings,” mentioned the discharge.
Earlier this week, earlier than the FIU launch, the Workplace of the Prime Minister issued a Public Advisory calling on most of the people to pay attention to Web Scams. “The workplace of the Prime Minister is urging the general public to stay vigilant in opposition to the growing variety of web scams focusing on Ministers of Authorities, public officers and companies,” that launch acknowledged;
“Scammers more and more use refined techniques and AI instruments to use unsuspecting victims on-line. Defend your self by being knowledgeable and cautious,” the discharge added. In accordance with the Cyber Safety Incident Response Group (CSIRT) on the Ministry of ICT, Grenada, Grenada has had a number of Ponzi schemes focusing on nationals in current months.
On January 9, CSIRT issued an advisory warning Grenadians to pay attention to ongoing recruitment drives by individuals concerned in Creators Alliance to recruit unsuspecting Grenadians to hitch its platform. On January fifteenth, CSIRT issued one other launch describing Artistic Alliance as a multilevel advertising Ponzi scheme.
Multilevel advertising is the follow of promoting items or providers on behalf of an organization in a system the place individuals obtain a fee on their gross sales and the gross sales of any individuals they recruit. It’s typically referred to as referral advertising.
In accordance with Jervis Dabreo of the CSIRT Grenada, primarily based on its investigations, Grenadians started closely investing in Creators Alliance in 2024, however web analysis has proven that the Scheme began in 2020.
“We started investigating Creators Alliance in late 2024 and posted the primary warning on January 09th, 2025,” mentioned Dabreo, who confirmed that greater than 1,000 Grenadians are affected by the Scheme, by which investments ranged from a whole bunch to 1000’s in United States forex.
Grenadians representing completely different professions, together with healthcare professionals, lecturers, cops, and a broad cross-section of Evangelicals and different faith-based organizations, have misplaced hundreds of thousands by investing within the Creators Alliance.
When requested the place Creators Alliance was headquartered, Dabreo mentioned that web investigations relating to the scheme ‘sScheme’s house location stay unclear. “Every island had a unique web site tackle; what was supplied to the folks in Grenada is completely different from what was supplied to the folks in St Vincent or the folks within the different islands,” he defined.
The Creators Alliance just isn’t the one Ponzi Scheme focusing on Grenadians. The CSIRT has printed 5 different on-line entities, together with Experience BnB, Rain BnB, and BullionX.
