there has been a surge in demand for cash withdrawals, leading to banks and ATMs running out of cash in many parts of the country.

Sidra Humaid, a Karachi-based social media influencer and businesswoman – who is famous for running a monthly ballot committee system through numerous Facebook groups – has allegedly committed an online fraud of Rs. 42 crores. The women who have fallen prey to the notorious acts of the entrepreneur are openly speaking against Sidra while warning her of the dire consequences.

Sidra Humaid Declares Bankruptcy in a Facebook Post

The owner of ‘Daily Bites’ and ‘Cróise’, has made a public post declaring that she has “no means to pay off her committees.” The victims started reaching out to each other via WhatsApp and Facebook groups warning her of severe consequences. Meanwhile, no one has officially lodged a complaint against the entrepreneur, as she has claimed that all the money will be returned in due time. She wrote, “Please guys don’t panic. Your money will be returned in the coming months.”

Sana Adnan, a victim who lost Rs150,000 to the Ponzi scheme, unveiled that every month a member of the accused family gets the money while the other keeps waiting for their turn. Sana told a local news publication; “We found out that every month some ‘ghost’ member or someone in ‘her family’ is paid the total amount while we, all the members, kept paying the monthly committee throughout all months. It turned out that all the money was actually going to Ms Humaid herself.”

Red Flags in a Ponzi Scheme

Always look for the below-mentioned red flags if you are investing in a dubious package or scheme:

  • High returns with little or no risk
  • Unregistered investments
  • Unregistered sellers
  • Secretive strategies
  • Little to no paperwork
  • Difficulty receiving payments
  • Pressure to reinvest
  • ‘Limited Time Offer’ tactics

Read more: Davud Akhundzada Faces Uber Scam on his Trip to Pakistan


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