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Friday, Dec 03, 2021
Outlook.com

Mind

Mind
Mind
outlookindia.com
2016-02-12T20:42:11+05:30

This week we learnt about…A Gurkha Ponzi scheme

Hundreds of Gurkhas in the UK have fallen prey to a ponzi scheme, with many losing their life savings. About 450 retired and serving soldiers have invested close to 2.4 million pounds in the scam. Ironically, most are too proud to come forward to the police. Only five have approached the police, which is investigating Capital World Markets, whose investment fund was offering  returns of 5 per cent per month. In all, 800 people have been lured into investing and 50 million pounds has been lost in all. This comes as a double whammy for many Gurkhas, for they were already stretched by sending funds back to Nepal after the earthquake.

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