Is there a money syndicate?

[Starmix]

The answer is yes. Money syndicates exist in various forms. Generally, a money sundae refers to a group of people who pool their funds together for a common purpose, which can be either legitimate or illegal, depending on the context. It is sometimes called a savings group, a rotating credit association, or a cooperative society. Members of tis contribute money regularly and take turns receiving a lump sum. It is common in many communities as a way to save and access funds collectively.

It can also involve fraudulent schemes such as pyramid schemes or loan sharking. It often operates outside legal financial systems, exploiting people financially. It can cause serious harm to individuals and communities. News about money syndicates often refers to illegal operations, such as fraud rings or scam groups that manipulate or steal money. These syndicates can be involved in activities like fraudulent investments, money laundering, or organized theft.