KARACHI: Hundreds of people, mostly women, were robbed of around Rs420 million allegedly by a Karachi-based social media influencer and businesswoman, who ran a monthly ballot committee system — an age-old method of interest-free savings and pooling money commonly known as BC or committees — without keeping any written records of depositors/contributors ending the whole scheme in total fraud.
Sidra Humaid, owner of a home-based food business ‘Daily Bites’ and handicraft start-up ‘Cróise’, allegedly defrauded hundreds of her depositors by announcing on social media that she had “no means to pay off her committees” to around 200 contributors leaving them in utter shock and disbelief.
Since last week, social media is abuzz with stories of victims of what many described as a Ponzi scheme. Many victims reached out to each other and formed WhatsApp groups to take action against Ms Humaid.
However, it appears no one has approached police or the Federal Investigation Agency against Ms Humaid so far in a bid to resolve the issue on their own.
On her part, Ms Humaid, whose whereabouts are not known, posted on social media: “Please guys don’t panic. Your money will be returned in the coming months.”
One of the victims told Dawn that Ms Humaid had pulled off the ‘scam’ of around Rs150m to Rs200m.
Sana Adnan, who lost Rs150,000, said most of the people knew Ms Humaid for the past seven to 10 years. “I joined two of her Committees. I was paying…
