A group of Russian and foreign companies operating under the name of Cashberry enjoyed spectacular success, but the Central Bank of the Russian Federation found it to be a classic Ponzi scheme that attracted thousands, the Russian media outlet Interfax reports.
Cashberry's business is based on multilevel marketing, which implies that those who come later pay dividends to their predecessors. They pose themselves as a P2P investment platform where lenders and borrowers find each other. Cashberry used aggressive marketing techniques, including pushy advertising in mass media and social media, offering highly profitable investments with guaranteed returns in rubles and cryptocu...
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