NAPOLEONVILLE — The Assumption Parish Sheriff's Office warned the public of a scam affecting residents in the parish over the Memorial Day weekend. 

The sheriff's office said that a significant number of residents in the parish have recently contributed funds to BG WEALTH SHARING, a company previously identified as a fraudulent cryptocurrency ponzi and pyramid scheme.

According to deputies, BG WEALTH SHARING was shut down by U.S. federal law enforcement in April 2026, with authorities seizing the platform's websites and freezing over $41 million in stolen investor money. 

The scam allegedly operates as a multi-level marketing structure with promoters recruiting customers on social media or contacting potential investors through third-party representatives. The company will often begin by collecting small investments.

The goal of the scheme is to have new clients solicit financial commitments from friends and family, with the company promising a return on investments surpassing 50%. 

Anyone who has invested any funds through the company or a representative of the company should contact the person they originally spoke to when investing.