ARTICLES RELATING TO PONZI SCHEME

What SA's top 5 banks say about MMM

2016-06-10 07:30

As more and more MMM users complain about not being able to get cash from other users, SA’s top five banks respond to a query about the scheme's banking activity.

EXCLUSIVE: Capitec has closed 2 000 MMM bank accounts

2016-05-30 14:55

WATCH: Capitec CEO Gerrie Fourie says banks and regulators should work together to protect their clients from Ponzi and pyramid schemes.

MMM resets system causing panic among members

2016-05-03 13:37

MMM SA members stand to lose thousands of rands after their accounts were frozen and the mavros points system reset due to a lack of money entering the alleged pyramid scheme.

News24 demands MMM website remove fake apology

2016-04-22 07:18

News24 has ordered a website linked to alleged pyramid scheme MMM to remove a fake apology that seeks forgiveness for publishing stories about the Russian-created scheme.

MMM adviser: People can lose money from scheme - WATCH

2016-04-20 13:36

MMM members in it to make their fortune have joined with the “wrong motives” and could quite easily lose out, says a business consultant linked the scheme.

Hawks: Probe into MMM is a priority

2016-04-15 15:26

An investigation into whether MMM is breaching any laws in South Africa has become a priority, the Directorate for Priority Crime Investigation (Hawks) has said.

MMM: Poor will be hit hardest when MMM SA collapses - WATCH

2016-04-14 13:04

Maya Fisher-French says MMM has delivered money to people who are early adopters, it’s been clever at its marketing skills, but it will come to an end … which will bring tears.

MMM: Pyramid scheme, stokvel or wealth revolution?

2016-04-13 06:58

If MMM is not the revolutionary platform to end financial injustice, when the mavros run out and the MMM members stop donating money, the poor will be the first to lose out.

Alleged Ponzi scheme exonerated

2016-02-05 07:55

Alleged pyramid scheme DiPESA has been exonerated by the National Consumer Commission after an investigation showed that the business is “legitimate”.

To Biznews Community: Is high pressure seller Holborn AM legit or a scam?

2015-10-16 07:17

Holborn Asset Management seems to be fishing quite aggressively for business in SA but is it above board? Alec Hogg invites comment.

 

MMM: Capitec will unlock accounts if clients prove legit activity

2016-05-31 13:02

Capitec Bank says the onus is on clients to prove their banking activity is not fraudulent, after which it will unlock closed accounts.

Mathematical proof Ponzi, pyramid schemes will fail

2016-05-30 13:29

Faced with empty wallets and rising costs, South Africans are placing their faith in “get rich quick” schemes that lure desperate consumers with promises of unrealistic returns.

MMM: Media and banks trying to help consumers - Asisa

2016-04-28 10:12

Many MMM investors believe banks are out to get them, but the truth is that the industry genuinely wants to protect them from products that will wipe out their savings, says Asisa.

MMM website issues fake News24 ‘apology’

2016-04-21 17:33

In an attempt to discredit the media and the SA government, a website appearing to be of MMM SA has published a fake apology from News24 for “blackmailing” the scheme.

MMM is luring stokvel members – CEO

2016-04-18 15:09

Stokvel members are being targeted to join the alleged pyramid scheme MMM, says Andile Mazwai, CEO of the National Stokvel Association of SA.

MMM SA seeks court clarity over Ponzi claims

2016-04-15 12:33

The MMM SA community has applied to the Pretoria High Court to get clarity on whether its donation-based network of users is a Ponzi or pyramid scheme, it has announced.

MMM: New anti-Ponzi law could target founder

2016-04-14 11:09

A new Russian law that criminalises Ponzi schemes could add to the woes of the South African MMM community, whose global founder and leader is Russian.

Alleged SA Ponzi scheme MMM’s global pyramid collapses

2016-04-12 07:57

Sergey Mavrodi's MMM Global Republic of Bitcoin scheme has collapsed, affecting the local branch of MMM Global.

Allen Stanford loses appeal of Ponzi scheme conviction

2015-10-30 10:45

A US appeals court has ejected Texas financier Robert Allen Stanford's bid to overturn his conviction and 110-year prison sentence for running an alleged $7.2bn Ponzi scheme.

Belvedere: How alleged Ponzi scheme collapsed

2015-10-09 07:56

Since Offshore Alert exposed the Belvedere Group as an alleged Ponzi scheme in March 2015, it has collapsed in many different jurisdictions, says David Marchant.

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