Police warning after victim scammed out of more than $10,000 – The Royal Gazette

 Police warning after victim scammed out of more than $10,000 – The Royal Gazette

Updated: Nov 04, 2021 01:06 PM

A member of the public has lost more than $10,000 in a scam investment scheme that promised high returns.

A police spokesman highlighted a second scheme where fraudsters tried to obtain private financial details of victims.

He explained the first fraud, dubbed the hyperfund scam, involved what appeared to be a legitimate company that invited investors to put up cash in a multilevel marketing scam similar to a Ponzi scheme.

The spokesman said: “Several persons have fallen victim to the scheme, with one Bermudian investing upwards of $10,000.”

He added the other scam involved cold callers who phoned people and claimed to be from online shopping service Amazon.

The spokesman said: “The fraudster then informs the intended victim they have a monetary claim on hold and requests certain personal details to confirm their order.

“This is an attempt from the fraudster to obtain…

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