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Some members of Ghana's impending community have expressed vexation to the Office for Combating Organized and Economic Crime (EOCO), warning the general public to refrain from investing in the project.
EOCO said Friday in a statement: "It's a scam and the general public is asked to refrain from investing and patronizing the loom."
He warned that anyone who trades with Loom does so at his own risk.
However, members of the impending community in his response stated that the scheme was not a scam.
A statement released Saturday by members said: "We can attest to the fact that no single person collects or disburses all the funds. If a member needs to be paid, all new entrants send the money directly to the person's MoMo (Money Money) account. The same is true when the new entrant receives in turn all other new entrants who pay directly to the person. "
They also encouraged all members and groups to stay calm and continue to add more people to the loom system.
Find the complete statement below:
