The Bank of Guyana, Guyana Securities Council and the Financial Intelligence Unit as members of the regulatory framework for the Financial Sector in Guyana, take this opportunity to issue this Joint Public Advisory regarding participation in Pyramid Schemes also referred to as Ponzi Schemes.
We wish to advise that such schemes and their activities are fraudulent, illegal, unlawful and unregulated.
It is our understanding that these schemes are being offered to the public via direct solicitation and by various social media platforms, including but not limited to WhatsApp and Facebook. Potential investors are lured to these schemes by offers of returns or interest rates as high as fifty percent (50%) per month. All fiscal empirical data will establish that this is a prudent commercial impossibility.