Pyramid schemes target churches
MBABANE – The Royal Swaziland Police have warned the public of four companies that are trading as pyramid schemes that target churches and public gatherings.
According to the police, unsuspecting members of the public have lost money to the companies that claimed to be legitimate burial or investment companies.
Police Public Relations Officer Superintended Wendy Hleta warned the public about people and companies going around enticing them to join pyramid schemes.
She said some of these companies promise the unsuspecting members of the public that if they join these schemes by investing money they would get salaries of up to E10 000 per month.
They target large groups of people like churches and other public gatherings. She stated that most of these companies claim to be registered outside the country.
“Usually these companies ensure that the first people to join the schemes will benefit in the first two or so months, something that lures more people, because when the companies advertise their services they refer their potential clients to those who have already benefitted.
“This results in more people joining the schemes. Unfortunately upon making a lot of money from unsuspecting members of the public the bogus companies disappear,” said Hleta. She further indicated that it took time for people to report the companies because they (criminals) use forerunners who pretend to be members of the schemes.
She said the police have a report of five companies in the country who are being investigated for this fraudulent activity. One of them is in the Shiselweni region; two are in the Manzini region, and two in the Hhohho region.
She stated that these companies were investigated for taking people’s monies for certain benefits such as burial schemes only to find that when the people made claims they could not be assisted.
Hleta further requested the public to inform the police if there were other companies they suspected of similar operations.
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