Investors seem to be having a hard time getting their money back from the US-headquartered ‘alternative investment fund’. Several government agencies are taking note.
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The visa service provider is under fire for its vaguely worded charges, fake reviews and poor customer support.
The investment app fraud is a classic ‘pig butchering’ scam, where victims are ‘fattened’ by encouraging small investments with steady payouts. Sadly, this one could be just one of many.
Well-funded internet startups have become a soft target for fraudsters. They are being taken for a ride in the most innovative of ways in a constant cat-and-mouse game.