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Cash App Circle Pyramid Scheme. Square cash app is the fourth most popular payment app in the usa. However, it can also be an illegal pyramid scheme that can cost you money and potentially land you in jail.
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This was my first check i got direct deposited into my cash app account. Only the difference is that in a circle scheme, members need to create a circle. They will recruit even more people, and, as the circle widens, everyone makes loads of cash.
Plus, pyramid schemes are popping up so fast, the ftc can’t investigate them all.
Therefore, the statement of the cash app wheel promotion is clearly misleading. This latest one, also compared to a pyramid scheme is called the “blessing loom” or “blessing bank” and it is designed to play on the trusting nature of people to donate money and expect a. Playing on people’s greed and fear of missing good deals. A scheme called loom circle or fractal mandala has seen people promised £1280 from a £160 investment.
This scam is a garden variety pyramid scheme however worse because typically you will receive no money back in return at all. Once the circle is full, the founder takes the $800 and then the other people start their own circles asking people to pay $100 to join.
Playing on people’s greed and fear of missing good deals. Please, pay attention to the fact that pyramid schemes are illegal in many us states.
