S. African pyramid scheme to be prosecuted for swindling 230,000 people

Pretoria: South Africa’s National Prosecuting Authority (NPA) said they will prosecute directors of a sophisticated pyramid scheme that fleeced 230,000 investors of millions of rands amid the COVID-19 lockdown.

Deputy National Director of Public Prosecutions and head of the Asset Forfeiture Unit (AFU) Ouma Rabaji-Rasethaba said. She said Up Money unlawfully exploited the COVID-19 pandemic and food security concerns to lure consumers into joining and participating in the Up Money pyramid scheme.