BLQ Football securities fraud warning issued in Uganda
Uganda’s Lotteries and Gaming Board has issued a BLQ Football fraud warning.
As per the Lotteries and Gaming Board’s October 11th public notice;
The attention of the National Lotteries and Gaming Regulatory Board has been drawn to a company trading as BLQ FOOTBALL Uganda on social media platforms such as Facebook.
BLQ has been conducting betting activities illegally without a licence from the National Lotteries and gaming Regulatory Board for the said activities.
This is the equivalent of a securities fraud warning in other jurisdictions.
The public is advised to refrain from dealing with unlicenced [sic] or illegal gaming operators who lure and defraud unsuspecting members of the public.
BehindMLM reviewed BLQ Football on September 11th, confirming it’s a “click a button” Ponzi scheme.
This type of app-based Ponzi scheme emerged in late 2021 out of south-east Asia. Third world countries, in which mobile usage typically dominates access to the internet, have been hit particularly hard.
I’m aware BLQ Football has initiated a “tax” exit-scam. I’ll be addressing that shortly.
Update 13th October 2022 – BLQ Football has pulled its websites offline.