The Economic and Organised Crime Office (EOCO) has confirmed that the fast growing money making scheme, LOOM is a SCAM(maybe to the displeasure of many).
LOOM has gained popularity over the weeks as it promises a mouth-watering 800% return on investments. However, LOOM is just circulation of money, a pyramid scheme esque.
As soon as contributions cease, the LOOM comes to an abrupt end and people (those normally at the bottom of the LOOM) lose their monies.
Read EOCO’s statement below: