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The Financial Services Commission (FSC) has advised that Warner Media Jamaica Limited is not licensed by it under the Securities Act and that it has initiated an investigation into the entity. Thousands of Jamaicans have reportedly lost millions of...
Jamaica has recently been rocked by yet another Ponzi scheme, with Warner Media Jamaica defrauding over 50,000 people and causing millions of dollars in losses.
Roughly 50,000 Jamaicans are said to have lost millions in a new Ponzi scheme which crashed on January 29, after operating for a little over a year. The unsuspecting investors can be heard openly sobbing in a member-only social media group, in the aftermath of the ‘Warner Media Jamaica’ meltdown. Some could be heard begging for the return of monies they say they had borrowed in hopes of creating a...