A couple from Texas, LaShonda and Marlon Moore, have been found guilty of running a fraudulent pyramid scheme during the COVID-19 pandemic. They exploited the struggles many faced during this tough time to enrich themselves. Assistant Attorney General A. Tysen Duva remarked that their actions targeted vulnerable individuals, causing significant financial harm.
The couple’s scheme, called “Blessings in No Time” (BINT), defrauded over 10,000 people, amassing losses over $25 million. U.S. Attorney Jay R. Combs emphasized the betrayal of trust involved, highlighting the need for accountability in such cases. Eric Shen, with the U.S. Postal Inspection Service, pointed out that these greedy schemes can have devastating effects on communities.
The Moores presented their operation as a community support program, promising high returns for investments. They falsely assured participants they could earn 800% on a $1,400 investment. Their strategy included live-streaming sessions where they recruited new participants, operating under misleading claims.
According to court documents, the structure of BINT was designed around a “playing board” concept. New recruits paid into the system to help others, with the Moores positioning themselves to reap the rewards. This manipulation not only swindled money from participants but also eroded trust within the community.
Both LaShonda and Marlon were convicted on multiple charges, including conspiracy and wire fraud. They could face up to 20 years in prison for the main charges. The case was investigated by the U.S. Postal Inspection Service, the Secret Service, and IRS Criminal Investigation, underscoring the collaborative effort to combat financial fraud.
Recent studies indicate that reports of similar scams surged during the pandemic. According to the Federal Trade Commission, Americans lost over $400 million to COVID-19 related fraud in just one year. This illustrates how fraudsters preyed on individuals during a time of uncertainty and financial strain.
The conviction of the Moores serves as a reminder of the importance of vigilance in financial dealings. Scams like these not only harm individuals financially but also damage the trust in community networks. Awareness and education about such schemes are crucial in preventing future fraud. If you think you may have been affected, it’s important to seek help and report the incident to the relevant authorities.
For further insight into victims’ rights, you can visit the U.S. Department of Justice page on victims’ rights.
