Hawks investigate after thousands are caught up in investment scam
The Serious Economic Offences Unit is investigating Bitcaw Trading Company after investors lost money
Thousands of investors have lost more than R1bn in an alleged investment scam. The Hawks said on Friday that its Serious Economic Offences Unit was investigating Bitcaw Trading Company‚ which is also known as BTC Global. More than 28‚000 investors are believed to have lost money. "Members of the public are believed to have been targeted as part of the scam and encouraged by BTC Global agents to invest with promises of 2% interest per day‚ 14% per week and ultimately 50% per month‚" Hawks spokesman Brig Hangwani Mulaudzi said in a statement. "Payments were allegedly made every Monday. Some of the investors got paid in terms of the agreement. However‚ the payments suddenly stopped." The acting national head of the unit‚ Lt-Gen Yolisa Matakata‚ encouraged members of the public who had invested in the scheme to come forward. "This may prove to be the tip of the iceberg with potentially thousands more yet to discover they’ve lost money. This is a timely reminder that unregulated‚ unusual...
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