Investigation into Suspected Ponzi Scheme in Grenada

Introduction to the Investigation

ST. GEORGE’S, Grenada, CMC—The Financial Intelligence Unit of Grenada has confirmed that it is actively investigating a suspected Ponzi scheme that has caused severe financial losses for individuals nationwide.

“If you believe you or someone you know may have been affected, please report it immediately,” said FIU in a press release on Wednesday.

How the Scheme Operated

According to FIU, members of the public were promised high returns on their investments.

“They were encouraged to recruit others, promising to earn more through referrals. This is a classic sign of a Ponzi scheme, where new investors’ money is used to pay earlier ones — not from real profits,” said the release.

Warning from the Office of the Prime Minister

Earlier this week, before the FIU release, the Office of the Prime Minister issued a Public Advisory calling on the general public to be aware of Internet Scams. “The office of the Prime Minister is urging the public to remain vigilant against the increasing number of internet scams targeting Ministers of Government, public officers and businesses,” that release stated;

“Scammers increasingly use sophisticated tactics and AI tools to exploit unsuspecting victims online. Protect yourself by being informed and cautious,” the release added. According to the Cyber Security Incident Response Team (CSIRT) at the Ministry of ICT, Grenada, Grenada has had several Ponzi schemes targeting nationals in recent months.

Creators Alliance: A Multilevel Marketing Ponzi Scheme

On January 9, CSIRT issued an advisory warning Grenadians to be aware of ongoing recruitment drives by persons involved in Creators Alliance to recruit unsuspecting Grenadians to join its platform. On January 15th, CSIRT issued another release describing Creative Alliance as a multilevel marketing Ponzi scheme.

Multilevel marketing is the practice of selling goods or services on behalf of a company in a system where participants receive a commission on their sales and the sales of any participants they recruit. It is sometimes called referral marketing.

Investigation into Creators Alliance

According to Jervis Dabreo of the CSIRT Grenada, based on its investigations, Grenadians began heavily investing in Creators Alliance in 2024, but internet research has shown that the Scheme started in 2020.

“We began investigating Creators Alliance in late 2024 and posted the first warning on January 09th, 2025,” said Dabreo, who confirmed that more than 1,000 Grenadians are affected by the Scheme, in which investments ranged from hundreds to thousands in United States currency.

Grenadians representing different professions, including healthcare professionals, teachers, police officers, and a broad cross-section of Evangelicals and other faith-based organizations, have lost millions by investing in the Creators Alliance.

When asked where Creators Alliance was headquartered, Dabreo said that internet investigations regarding the scheme ‘s home location remain unclear. “Each island had a different website address; what was provided to the people in Grenada is different from what was provided to the people in St Vincent or the people in the other islands,” he explained.

Other Ponzi Schemes Targeting Grenadians

The Creators Alliance is not the only Ponzi Scheme targeting Grenadians. The CSIRT has published five other online entities, including Ride BnB, Rain BnB, and BullionX.

Conclusion

The suspected Ponzi scheme in Grenada has caused significant financial losses for many individuals, and it is essential for the public to be aware of the warning signs of such schemes. The Financial Intelligence Unit and the Cyber Security Incident Response Team are working together to investigate and prevent further losses.

Frequently Asked Questions (FAQs)

What is a Ponzi scheme?

A Ponzi scheme is a type of investment scam in which returns are paid to existing investors from funds contributed by new investors, rather than from profit earned.

How can I protect myself from Ponzi schemes?

To protect yourself, be cautious of investments that promise unusually high returns, and always research the company and its investment opportunities thoroughly before investing.

What should I do if I think I have been affected by a Ponzi scheme?

If you believe you or someone you know may have been affected by a Ponzi scheme, report it immediately to the Financial Intelligence Unit or the Cyber Security Incident Response Team.