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"Get rich quick" schemes during the Covid-19 pandemic

Press/Media: Expert Comment

Description

Mark Button comments on the increase in "get rich quick" schemes during the Covid-19 pandemic

Period18 Jan 2021

References

Title'Only missing Bitcoin trader CEO can give answers'
Degree of recognitionInternational
Media name/outletOFM Online
Media typeWeb
CountrySouth Africa
Date18/01/21
DescriptionMark Button, speaking of online ponzi schemes in general, said that lots of people in financial difficulties are looking for a means to improve their situation. At the same time, people have more time on their hands - due to being furloughed, losing their jobs, recovering from illness - which "may expose them to such schemes when online occupying their time".
URLhttps://www.ofm.co.za/article/general/300790/only-missing-bitcoin-trader-ceo-can-give-answers
PersonsMark Button
TitleVanishing act: Only the missing CEO of bitcoin trader MTI can give answers, says employee
Degree of recognitionInternational
Media name/outletAsset News Hub
Media typeWeb
CountrySouth Africa
Date18/01/21
DescriptionThe CEO of South African bitcoin trading planform MTI, which was provisionally liquidated in late December after it stopped paying out funds to thousands of members, has not been heard from in four weeks.

While MTI has in the past denied it was a ponzi scheme, a professor of counter fraud studies says get-rich-quick schemes are likely to have proliferated due to Covid-19.
URLhttps://newshub.assetmag.co.za/svw1/item/56542878
PersonsMark Button

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