Ponzi Scheme Warning

The Royal Monetary Authority (RMA) wishes to notify the public that despite repeated warnings to refrain from participating or promoting the fraudulent Ponzi scheme known as 'Tallwin Life Plan', a certain portion of the general public continues to engage in this illegal activity.

As a result, the Financial Intelligence Department of the Authority has frozen multiple bank accounts belonging to individuals involved in promoting the scheme to the general population. These accounts will undergo a thorough investigation by the competent Law Enforcement Agency, in accordance with the Anti-Money Laundering and Countering of Financing of Terrorism Act of Bhutan 2018.

Engaging in this scheme is in violation of Section 11 and subject to legal liability under Section 15 of the Financial Service Act of Bhutan 2011. Additionally, operating this fraudulent scheme also violates provisions outlined in the Penal Code of Bhutan 2004.

The Royal Monetary Authority emphasizes its previous call for the public to refrain from participating in the scheme in order to avoid potential legal consequences.