Up Money grocery club: Pyramid scheme accused of stealing millions from hungry South Africans

“UPMONEY” EXPOSED AS A PYRAMID SCHEME:

ACTION TAKEN BY AFU AND CONSUMER COMMISSION.

“The scheme received close to R43-million between 4 May and 2 July, and more than R12.5-million was spent on purchases at various retail stores and buying the three luxury cars.”

Report by Daily Maverick

https://www.dailymaverick.co.za/…/2020-08-05-pyramid-schem…/

Up Money grocery club: Pyramid scheme accused of stealing millions from hungry South Africans

The Asset Forfeiture Unit (AFU) announced on Tuesday that it had, based on evidence from the National Consumer Commission and Financial Intelligence Centre, frozen the accounts and was investigating a Covid-19 pyramid scheme called Up Money grocery club owned by Jude Matsimela and Sipho Mdhuli.


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