It (the particular cash trusts and similar schemes in question) is a big scam. It is also understood that complaints have been made to the SC and other enforcement agencies on these cash trusts companies and those with similar schemes. One such company’s website states that a cash trust is created when a sum of cash is placed in a trust, and the beneficiary or beneficiaries can tap on to the cash trust for emergencies, including for legal expenditure while waiting for an insurance payout, or pending an inheritance claim. A unique feature of a cash trust, it states, is that it will not be frozen upon the cash trust creator’s death, and that cash in the trust is still accessible subject to terms and conditions. One source familiar with the cash trusts operations said that in some cases, companies operating such schemes are well connected, which makes them more brazen.

Source: The Edge Markets May 24, 2022 03:36 UTC