Up Money participants risk prosecution
Aug 09, 2020
3 minutes
This week the authorities announced an R18 million preservation order against the Up Money pyramid scheme. They also confirmed that there will be criminal prosecutions in relation to the pyramid scheme, which swindled more than 230 000 investors.
But those people who willingly participated in this “grocery stokvel” pyramid scheme should not expect any compensation as victims – in fact, they are more likely to be hit with a fine.
At a press briefing, Joseph Selolo, acting secretary at the National Consumer Commission (NCC), made it clear that participating in a pyramid
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