Beware of unregulated investments
Desperate investors are still trusting sophisticated investment fraudsters and losing their hard-earned savings to illegal unregulated investments.
Ponzi schemes
As crypto winter appears to thaw – watch out for scams!
Millions of cryptocurrency investors have been scammed out of massive sums of real money. In 2018, losses from cryptocurrency-related crimes amounted to $1.7bn.
Lessons forgotten? Alleged SA Ponzi ‘MMM Global’ hits reboot
MMM, the online Ponzi scheme that collapsed in South Africa and Nigeria in 2016, is attempting to reboot by offering a Bitcoin-based currency to all users around the world.
No ‘get rich quick’ fix. Mathematics proves ‘ponzi’ failure.
Mike McDougall, CEO of the Actuarial Society of South Africa, was motivated to do some number crunching to show in simple, yet no uncertain terms, why ponzi schemes are destined to fail.
Capitec shuts 2 000 MMM ‘ponzi scheme’ linked accounts – ‘SARB must act faster’
South Africa’s biggest unsecured loan provider, Capitec, revealed that it closed 2 000 bank accounts linked to Ponzi scheme MMM.
Alleged SA Ponzi ‘Bitcoin-based MMM Global’ goes bust – Russian founder hiding
Russian convict Sergey Mavrodi has allegedly gone into hiding after announcing that his Bitcoin-based MMM Global scheme had failed and was shutting down this weekend.
Belvedere Ponzi: Investors lose millions in collapse of JSE-listed BK One
Last time Alec Hogg chatted with David Marchant, he totted up Belvedere-related losses to around R4bn, in his opinion just the tip of the iceberg.
Belvedere Buster David Marchant on Ponzis, Cosgrove, CWM and Moneyweb
Belvedere Buster David Marchant was vindicated by a lengthy affidavit and over 1 000 supporting documents from the Guernsey Financial Services Commission.