Texas Attorney General Ken Paxton filed a lawsuit against a company called “Blessings in No Time” (BINT), alleging that it ran a pyramid scheme during the pandemic.
The lawsuit accuses BINT of “scamming tens of millions of dollars from the African American community in Texas” in exchange for “blessing” members of needy families. Contributors were solicited under the auspice of returning as much as eight-times the initial investment.
“BINT scammed Texans out of money by exploiting their deeply-held religious faith during a national crisis,” Paxton said in a statement. “This is despicable behavior, and BINT will be prosecuted to the full extent of the law.”
According to the lawsuit, victims paid between $1,400 and $1,425 and were promised returns over $11,000 if they recruited additional members. BINT falsely advertised it would offer refunds if the recruiting was unsuccessful, the lawsuit alleges.
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SOURCE: Washington Examiner; The Center Square, Robert Davis