What is The Blessing Loom, Money Circle, Friends and Family Gift Share, Sou Sou Flower, Money Board



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What is The Blessing Loom, Money Circle, Friends and Family Gift Share, Sou Sou Flower, Money Board

What Is The Blessing Loom? The Blessing Loom has been making its rounds through social media and is described as many different names. One being the Blessing Loom, others: friends and family gifting circle, friends and family share, sou-sou flower, family and friends sou sou flower, modern day sou sou, money loom, money loom circle, mandala game, infinity loom, money board and there are more! It’ll take forever to name them all. The blessing loom explained: - Invitation: You receive an invitation (and right now social media is the most popular) through social media, text message, phone call etc. describing an opportunity for you to make money by making a sizable return on your initial investment. I personally received an invitation to join a “sou sou” for $500 and would profit $3500 when it is my turn to be paid out. Sounds a little sketchy right? And of course there was a catch! I would have to invite 2 more people to join in each of whom must pay $500. - Where does the money go and what happens: (Circle Graphic) The money goes to the person in the center of the circle. Each person who joins in at the outer ring will send a payment (right now they’re using CashApp) to the person in the center of the circle. When that person receives payments from all members (in this case, eight), they will move out of the center and decide whether they want to join back in at the outer ring *cough cough* bottom of the pyramid *cough cough* or take their profits and run. - What happens to everyone one else when the person at the center is paid? First, the circle SPLITS. Then, everyone moves up a level and those who are in the outer ring will now have to start inviting people to join and make a payment to the person in the center. This cycle continues over and over again until the circle falls apart. Is the Blessing Loom Scheme Illegal? The short answer is yes. The long answer is also yes, because it is a pyramid scheme. Now don’t get angry with me. Can it work? Sure, it has worked for people who are involved in circles with people who are trustworthy and accountable. But that does not make it legal. Connecticut state attorney general and consumer protection commissioner have issued warnings about pyramid schemes showing up on social media. The Better Business Bureau has also issued a scam alert on the Blessing Loom, KOMO news in Seattle Washington has covered this story, KAGS TV in Texas has covered this and also has it filed on their website under “crime”, OKCFox has also covered this story labeling it a scam. There are many sources out there. Finally, the FTC (federal Trade Commission) has also issued a warning about this. Federal Trade Commission Warning: https://www.consumer.ftc.gov/blog/2020/05/game-chain-letter-scam KAGSTV News (Texas) Warning: https://www.kagstv.com/article/news/crime/beware-pyramid-scheme-disguised-as-blessing-loom/499-b679545d-c1b2-4947-8f17-fb0949edc345 KOMO News (Seattle) Warning: https://komonews.com/news/consumer/bbb-issues-scam-alert-for-blessing-loom-pyramid-scheme-on-social-media Better Business Bureau Warning: https://www.bbb.org/article/news-releases/22255-bbb-scam-alert-easy-money-blessing-loom-nope-pyramid-scheme Connecticut State Attorney General Warning: https://www.nbcconnecticut.com/news/local/officials-warn-against-blessing-loom-pyramid-scheme/2259396/INTRODUCTION - What Is The Blessing Loom?

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