Tag Archives: combatting

Investment Scams in Trinidad and Tobago: A Growing Concern Over the years, there has been a marked increase in the number of complaints from individuals who have fallen victim to investment scams in Trinidad and Tobago (T&T). The most common are Ponzi schemes and pyramid schemes, though there are numerous variations. The central aim of all these fraudulent schemes is to deceive investors. Ponzi schemes are defined by Investopedia as fraudulent investments in which early investors are paid returns from the funds of later investors, thereby creating the illusion of profitability. Pyramid schemes, by contrast, rely on rewarding early participants for recruiting new investors. These schemes inevitably collapse once the supply of new investors dwindles. In both cases, the funds collected are not invested in any legitimate or productive activity capable of yielding the promised returns. Typically, the...