Montana warns of Facebook pyramid scheme claiming victims in Gallatin, other counties

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By: Bozeman Chronicle 

The state auditor’s office is warning Montanans of a Facebook pyramid scheme that is claiming victims across the state, including Gallatin County.

The scheme, called the “Friendsgiving Network,” is appearing primarily on group chats on the Facebook Messenger app with people recruiting friends to buy into the bottom of a pyramid for $100…

“Pyramid schemes like these are against the law because they always fail once the pool of new recruits runs out. People at the top of the pyramids make money, but the newest participants lose everything they’ve put into the pyramid,” said Montana Securities Commissioner Matt Rosendale in a statement. “Montanans should not participate in these type of schemes, and remember: If an opportunity to make money sounds too good to be true, it probably is.”

Read more at the Bozeman Daily Chronicle