The RCMP Federal Policing in Calgary received information regarding a program called “women helping women”. There have been similar scams in recent years, “Women Blessing Women”, “Circle of Friends” and “women gifting women”. The organizers recruit women only, to attend presentations where they are encouraged to pay a “gift” of $5000 or other amount. The women are encouraged to invite more women to participate, with the goal of receiving a “gift” multiple times larger than what they paid in. Eventually, there is no one left to join the pyramid, and those in the group will lose their contribution. These types of schemes are illegal pyramid schemes. Participating in these schemes is a crime under Section 206 of the Criminal Code.
Participants are misled to believe this scam is legal by documents allegedly prepared by lawyers, the police and Canada Revenue Agency. The women are also told that because the money is a “gift”, the money is not taxable. These statements are not true and are merely used to entice people to participate.
RCMP would like to remind the public that “if something seems too good to be true, it likely is”. It is always wise to do your research when investing your money or participating in get rich quick schemes.