Some members of the Looming community in Ghana, have expressed their vexation at Economic and Organised Crime Office (EOCO) warning the general public to desist from investing in the scheme.
A statement issued by EOCO on Friday said “It is a scam and the general public is cautioned to desist from investing and patronising the Loom.”
It warned that anyone who transacts business with the Loom does it at their own risk.
However, members of the looming community in it’s response have said the scheme is not a scam.
A statement issued by the members on Saturday, said “We can attest to the fact that no single person is collecting all the monies and disbursing same. If a member is due for payment, all new entrants send the monies direct to the MoMo (Mobile Money) account of the said person. In the same vain when it is the turn of the new entrant to receive cash out all other new entrants pay directly to the person.”
They further encouraged all members and various groups to be calm and continue to add more people to the loom scheme
Find the full Statement below: