So, long story short. My mom is falling for a ponzi scheme. Or sorry, her husband and her are falling for a ponzi scheme.
My husband and I (28F) tried for nearly an hour to convince my mom BG Wealth Sharing is a ponzi scheme and if she is even able to make money, it’s off the backs of other people being recruited and scammed. She was not buying it so I told her I’d like to cut contact until she comes to her senses.
Her husband posted about the scam today on facebook in one of those classic scammy posts that end with “Comment yes if you’re interested.” There are a few people who commented yes and I feel like morally I should tell them, because they’re older people (50+) and these things thrive off people in that age range as well as the “trust” of it coming from someone they know.
But I also know that may cause an even bigger rift between my mom and I. I feel like on one hand, it may be me subconsciously trying to shame/embarrass her under the guise of me trying to help others. But on the other hand, I feel like I would want someone to give someone like my grandma a heads up if they could.
EDIT: I replied under the two women who commented that they’re promoting a scam and my mom blocked me on fb and her husband responded basically laughing at me and my “self-righteousness”. Oh well!
Not the AH, you used good judgement and they do prey off of certain demographics cause they know they work
Ponzi schemes depend on recruiting friends and family. Letting people know what they’re getting into isn’t wrong
I’m in my mid-40s, people around my age & a bit older REALLY should know better than to fall for those type of scams. They’ve basically existed since we were teens and we should KNOW that if something sounds too good to be true, it typically is.
NTA.
I had a friend who wanted to believe in these things _so badly_ they managed to hit almost every pyramid scheme going.
(Not blaming anyone falling for one scam, can happen to the best of us if they catch you in the right moment with the right spiel), but when your friends and family sit you down… you might want to listen.)
OP is NTA for warning people. Nobody is ever TA for looking out for others.
NTA This is a tough situation. You have every right not to want to watch your mom dive into a scam. If there are issues that lead you to going NC, then that’s up to you, but using it as a threat is an easy way to further isolate your mom and make her double down. This situation is pretty well known and if you actually do want the person in your life it’s better to support them in other areas and allow them to come to you with misgivings. It’s ok to tell her you don’t want to hear about financial talk, but if you’re cut off she’s a lot more likely to further embrace it since now it’s all she has. You can look up how to deal with loved ones who fall for cults and MLMs for further help.
NTA, I do not understand how Ponzi schemes have been around for a hundred years (look it up) and are still falling for them. You did good.
you can report to Facebook about the post and/or copy/paste what the investor alert says
Facebook will likely drag their feet for weeks and then silently pull the posts and comments without informing anyone of the scam.
Confidence schemes work because people want to believe. Don’t count on having any effect in dissuading anyone.
NTA but I’d be very careful on the wording of the comment and its tone especially towards the intended audience (mom and her friends and stepdad’s innocent friends) and make sure it doesn’t further alienate them but also really communicates the seriousness of the message in a way that an older more tech illiterate generation can understand. Maybe you could consult some of the subreddits here centered around scams about how to go about that!
NTA. Are your mom and her husband familiar with Bernie Madoff? Have they watched any of the documentaries or miniseries? It’s a shame that people fall for them, but fall for them they do. I’m very sorry they’re not willing to listen. I draw the line at trying to scam others, though. You’re doing what you can.
I’ve sent links of articles about it being a scam and I named legitimate trading platforms, and I was basically scoffed at. It’s extremely frustrating. I want to scream.
NTA. Older people falling for scams is far too common and your mother and her husband are trying to convince these poor folks to follow the same exact thing they got roped into. And if your mom gets upset about it, that’s on her.
Now if it’s 30-year olds pouring thousands of dollars into a meme coin, just let them do that. If they’re stupid enough to get scammed by a meme coin, they kind of deserve to get scammed at that point
Whatever happens do not lend them ANY money when or if they go broke. That’s their problem not yours. Leave them alone.