Tag Archives: Gullible depositors lose ‘Rs420m’ in Ponzi scheme

KARACHI: Hundreds of people, mostly women, were robbed of around Rs420 million allegedly by a Karachi-based social media influencer and businesswoman, who ran a monthly ballot committee system — an age-old method of interest-free savings and pooling money commonly known as BC or committees — without keeping any written records of depositors/contributors ending the whole scheme in total fraud. Sidra …

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