August 14, 2019 11:11 am

Police in northern New Brunswick warn of ‘gifting cloud’ pyramid scheme

Canadian money: $100.00 bill, Vancouver, B.C. on Monday, April 15, 2019.

THE CANADIAN PRESS IMAGES/Bayne Stanley
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There’s an online financial scheme circulating in northern New Brunswick that police want you to be made aware of.

New Brunswick RCMP say the “gifting cloud” or “gifting circle” scheme starts with people being invited to invest a “gift” of money, with the promise of a significant financial pay-off at a future date.

READ MORE: New Brunswick RCMP issue warning about ‘gifting cloud’ scheme

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Those approached are then asked to recruit new “investors” to contribute before they can receive their supposed payment, according to police.

“Such ‘gifting clouds’ or ‘gifting circles’ are pyramid schemes,” police stated in a Wednesday press release. “They are fraud and are illegal.”

Saint-Quentin RCMP Staff-Sgt. Martin Janson says officers are still working to identify those behind the scheme.

READ MORE: Nova Scotia woman issues warning about cruel and unusual scam offering free puppies

“We are asking anyone who has been approached to take part in a ‘gifting cloud’ or ‘gifting circle’ to come forward and report it to police, to help prevent others from being victimized,” Janson stated.

Police in northern New Brunswick issued a similar warning back in June.

Anyone with information is asked to contact Saint-Quentin RCMP or Crime Stoppers.

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