Despite unpalatable experience millions of Nigerians had with Ponzi schemes in the past, a similar scheme - LOOM, is now making wave among many Nigerians on social media.

Despite the agony experienced from MMM, Nigerians are embracing the newly introduced pyramid scheme called "LOOM" and again making gains and investing massively.

LOOM, the new Ponzi scheme has been a subject of controversy nationally. Many are asking whether it is a legit Ponzi scheme of monetizing and as well doubles investments.

Also gathered that LOOM is another pyramid system just like MMM which is said to be creating opportunities for people of earning eight times their capital back within minutes after registration.

My word of warning, please be careful with this new Ponzi scheme. Just my word of advise because remember "Once bitten twice shy".

It was gathered and culled from a post in https://www.legit.ng. Thanks!

Last edited by Natty (7th May 2019 02:56 pm)