SAINT-QUENTIN, New Brunswick - The Saint-Quentin RCMP is warning the public to be aware of scammers and fraudulent activity, after some people in northern New Brunswick have been approached to take part in a 'gifting cloud' or "gifting circle" scheme.
In a "gifting cloud" or "gifting circle," people are invited to invest or pay a "gift" of money to join, with the promise of a significant financial payoff at the end. They are then asked to recruit new 'investors' to contribute.
A "gifting cloud" or "gifting circle" is a pyramid scheme, it is a fraud, and it is illegal.
"If you know someone who is thinking about participating in a gifting cloud or gifting circle, tell them it's a scam and not to take part in any way," says Sgt. Martin Janson of the Saint-Quentin RCMP. "Spread the word to family and friends about this scheme, and encourage them not to contribute any money to anything that they aren't sure is a legitimate cause or investment."
If you believe a fraudster is targeting you, contact your local police or the Canadian Anti-Fraud Centre at 1-888-495-8501.
If you have been a victim of this scam or any other fraud, report it to your local police and your financial institution.