The Financial Intelligence Unit (FIU) of Grenada has confirmed that it is actively investigating a suspected Ponzi scheme that has resulted in significant financial losses for individuals across the country.
“If you believe you or someone you know may have been affected, please report it immediately,” the FIU urged in a press release issued Wednesday.
According to the FIU, members of the public were lured into the scheme with promises of high investment returns.
“They were encouraged to recruit others, with a promise of earning 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,” the release stated.
Grenada government issues internet scam warning
Before the FIU’s announcement, the Office of the Prime Minister had issued a Public Advisory, warning citizens about the rise in internet scams targeting government officials, businesses, and the general public.
“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,” the advisory stated.
“Scammers are increasingly using 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) of Grenada, the country has been targeted by several Ponzi schemes in recent months.
One of the most prominent, Creators Alliance, reportedly began recruiting Grenadians in 2024. However, internet research indicates that the scheme may have originated in 2020.
“We began investigating Creators Alliance in late 2024 and posted the first warning on January 9, 2025,” said Jervis Dabreo of CSIRT Grenada.
More than 1,000 Grenadians are believed to have invested in the scheme, with some contributing amounts ranging from hundreds to thousands of U.S. dollars. Those affected include healthcare professionals, teachers, police officers, and members of faith-based organizations, Dabreo confirmed.
While the location of Creators Alliance’s headquarters remains unclear, Dabreo noted that each island had a different website address, making it difficult to trace.
“The website provided to the people in Grenada is different from what was given to those in St. Vincent or other islands,” he explained.
Multiple online schemes targeting Grenadians
The CSIRT has identified at least five other Ponzi-like online entities, including:
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Ride BnB
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Rain BnB
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BullionX
The FIU’s investigation into these fraudulent schemes is ongoing, and authorities are urging anyone who has been affected to come forward.
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