Reported about 16 hours ago
WaterStation Management, a startup promising lucrative returns through water vending machines, has been revealed as a massive Ponzi scheme, leading to bankruptcy and legal troubles for founder Ryan Wear and others. Investors, lured by fears of contaminated water, bought into a vision that dissolved when it became clear that many machines were either non-existent or sold to multiple buyers. The fallout has devastated thousands of franchisees and exposed collusion among financial institutions, raising questions about regulatory oversights.
Source: YAHOO