If you have been connected to the Internet in the last year, it is very likely that within your network of contacts on Facebook and WhatsApp you have come across a member of the controversial Trust Investing “crypto asset investment platform.”
Under the slogan “In Trust I trust,” digital finance enthusiasts seek to multiply profits and add their acquaintances to what seems to be a solution—almost magical—to achieve financial freedom: the promise of more than 200% return on the initial investment in 10 months.
In Cuba, with an economy increasingly affected and aggravated by the COVID-19 pandemic, the promise of generating passive income seduces thousands of people, who have joined Trust Investing. Several experts have described the scheme as a Ponzi scam, alluding to the famous case of Carlos Ponzi in the United States, who paid his initial investors with the money of the new investors. A system that is mathematically doomed to failure once people run out of the pyramid.
Although there are no official figures, the “trusters” themselves, as the members of this community call themselves, calculate in their groups in the digital media that more than 70,000 people in Cuba are linked to this informal business system that has no regulations, and whose legal implications are a gray area on the island.
Meanwhile, earlier this week it was announced that Ruslan Concepción, director and principal promoter of Trust Investing in Cuba, was detained at the Havana airport…