DR1 Daily News - Dominican Republic

Pyramid schemes, those wonderful promises of great return on investments, far beyond anything to be found in banks or stock markets, are the bane of Dominican society and the victims of the scams keep making headlines.

One of the latest cases is that of ATB Football, which was an online betting scam that offered to double any investment in one month. With prizes for recruiting new players, the scam used the internet platform known as Telegram. The scheme also involved the use of crypto currency such as Tether. Everything came crashing down when authorities announced that the platform was not authorized to operate in the Dominican Republic.

The city of San Francisco de Macoris in the northeast was particularly hard hit as crowds gathered at the offices there to demand their money back. And this was just the latest case to reach the news.

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