Business News of Monday, 14 June 2021Source: www.ghanaweb.comIn 2019, the Economic and Organised Crime Office (EOCO) announced that money-making scheme, Loom was a scam. In a press release, EOCO called on Ghanaians to be cautious and not invest their monies into this ponzi scheme. The Economic and Organised Crime Office (EOCO) has issued a warning to Ghanaians to be wary of the Loom money-making scheme, describing it as a scam. It operates purely on the voluntary participation of individuals by using the strategy of network marketing. Anybody at all can start the scheme by convincing others to join his/her Loom WhatsApp group with any fixed amount payable by the Loomers.

Source: GhanaWeb June 14, 2021 10:18 UTC