Do your homework before investing your hard-earned money
Once again, hundreds of people have lost money they can ill afford to lose investing in what appeared to be a legitimate financial enterprise. All of them have now been left out of pocket, with some in dire financial straits as a result.
The company's office in Greenacres is closed and its website is no longer accessible.
The person running the operation also seems to be ducking and diving attempts from the complainants, as well as this newspaper, to obtain an explanation for what is looking more and more like a scam.
Police are investigating after receiving numerous complaints.
Unfortunately, trusting people have again allegedly been duped into putting money into an operation promising regular high returns and being left with nothing in the end.
The real heartbreak, though, is that many investors either took out bank loans or used their pension payouts or life savings for the investments on the premise of quick returns.
They have been left in a terrible position — no pension to sustain them, no nest egg for the future, bank loans to repay.
There are more than 300 complainants on one WhatsApp group.
The stories are heartrending.
One man is going through a divorce he says is because of the money he lost, another investor has to beg for milk and bread from neighbours just to get by. A third is battling depression.
Most complainants are from the Eastern Cape — Gqeberha mainly — with a few from Cape Town and Durban.
Though the company, which started operating in 2024, did initially make some payouts, they seem to have stopped at the beginning of the year.
Is it a scam? Only time will tell. If it was not a deliberate ploy to fleece the unsuspecting, the person who ran the scheme should come forward and explain what went wrong instead of going to ground and avoiding calls.
We implore would-be investors in any financial enterprise, do your homework before parting with your money.
Whatever claims are made on the website or in promotional material, check them thoroughly to test their veracity.
The Herald
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Do your homework before investing your hard-earned money
Once again, hundreds of people have lost money they can ill afford to lose investing in what appeared to be a legitimate financial enterprise. All of them have now been left out of pocket, with some in dire financial straits as a result. The company's office in Greenacres is closed and its website is no longer accessible. The person running the operation also seems to be ducking and diving attempts from the complainants, as well as this newspaper, to obtain an explanation for what is looking more and more like a scam. Police are investigating after receiving numerous complaints. Unfortunately, trusting people have again allegedly been duped into putting money into an operation promising regular high returns and being left with nothing in the end. The real heartbreak, though, is that many investors either took out bank loans or used their pension payouts or life savings for the investments on the premise of quick returns. They have been left in a terrible position — no pension to sustain them, no nest egg for the future, bank loans to repay. There are more than 300 complainants on one WhatsApp group. The stories are heartrending. One man is going through a divorce he says is because of the money he lost, another investor has to beg for milk and bread from neighbours just to get by. A third is battling depression. Most complainants are from the Eastern Cape — Gqeberha mainly — with a few from Cape Town and Durban. Though the company, which started operating in 2024, did initially make some payouts, they seem to have stopped at the beginning of the year. Is it a scam? Only time will tell. If it was not a deliberate ploy to fleece the unsuspecting, the person who ran the scheme should come forward and explain what went wrong instead of going to ground and avoiding calls. We implore would-be investors in any financial enterprise, do your homework before parting with your money. Whatever claims are made on the website or in promotional material, check them thoroughly to test their veracity. The Herald
