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Dominicans keep falling for pyramid schemes

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Dolores

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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.

Listin Diario recalls other...
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S

SKY

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windeguy said:
You cannot fix stupid. Years ago there were some "famous" DR1 posters that pushed a Ponzi schemer based out of Puerto Plata the eventually fell apart right here on DR1.
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You must mean Alberto "Rolex". This guy hung around Rocky's in its heyday flashing his Rolex and he had a fancy office. But you did get a magnificent looking Certificate of Deposit. Went belly up.......But all the clients were Foreigners.......
 
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CristoRey

CristoRey

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One of my neighbors when living down in SDE fell for the Rosario gold scam. He lost around 50,000 pesos because of it.
Not quite a ponzi scheme but same outcome.
 
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windeguy

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SKY said:
You must mean Alberto "Rolex". This guy hung around Rocky's in its heyday flashing his Rolex and he had a fancy office. But you did get a magnificent looking Certificate of Deposit. Went belly up.......But all the clients were Foreigners.......
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Could be. Never hung at Rockey's Brothel, but no surprise some gringos fell for the scam promoted there in in Puerto Plata by the now dead perps there. I don't recall the name of the company he used. Do you?
 
S

SKY

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windeguy said:
Could be. Never hung at Rockey's Brothel, but no surprise some gringos fell for the scam promoted there in in Puerto Plata by the now dead perps there. I don't recall the name of the company he used. Do you?
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No. But I remember the guy. I am pretty sure he was a Dominican or from Latin America. Some DR1 people lost considerable amounts of money. As in all these schemes the ones at the beginning were making money and it just fueled the pot for Alberto. But as I said his office was elegant and his secretary could have been on Vogue. Of course he spoke fluent English.......
 
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playacaribe2

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windeguy said:
You cannot fix stupid. Years ago there were some "famous" DR1 posters that pushed a Ponzi schemer based out of Puerto Plata the eventually fell apart right here on DR1.
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You might be referring to ANOECA, but over the years there have been quite a few in the DR.

Respectfully,
Playacaribe2
 
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JD Jones

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windeguy said:
Could be. Never hung at Rockey's Brothel, but no surprise some gringos fell for the scam promoted there in in Puerto Plata by the now dead perps there. I don't recall the name of the company he used. Do you?
Click to expand...
Anoeca. Alberto screwed up by taking too much land as collateral for his loans. Can't pay monthly dividends with dirt.

I had funds with him but got everything back.
 
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windeguy

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JD Jones said:
Anoeca. Alberto screwed up by taking too much land as collateral for his loans. Can't pay monthly dividends with dirt.

I had funds with him but got everything back.
Click to expand...
Bingo. Sponsored by Grahame and Ginny back in the day.
 
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SKY

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windeguy said:
Bingo. Sponsored by Grahame and Ginny back in the day.
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Not only sponsored, but received a set percentage (don't remember exactly 10% or more) of every deposit brought in by them. Some others were getting cuts near the end also. ..............
 
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RDKNIGHT

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A scam in DR no way I don't believe it.. oh wait this is the place where they sell land that is not their's
 
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