Investors jittery as police probe scheme
Hundreds of investors who put money into the Instant Wealth Club and were expecting payouts yesterday are out of pocket. Instant Wealth Club is among nine schemes under investigation by the National Consumer Commission, the National Prosecuting Authority, the Financial Intelligence Centre and the police's assets forfeiture unit.The schemes include World Ventures, Kipi, Make Believe, MNT Investments, MMM Scheme, Dipesa, Sikhese and Wealth Creation Club.Instant Wealth Club promised investors a return of R48000 from a R3000 investment.The club's payments, of between R40 000 and R50 000, were due to have begun yesterday. But a North West investor, who asked not to be named, said he and his friends had invested R5000 with no return.Investors were asked to deposit investments through a supermarket or bank ATM.Sandile Mabaso, another concerned investor, complained yesterday on Instant Wealth Club's Facebook page that his sister was still waiting for her money."I've been e-mailing them since the morning. I have had no response," wrote Mabaso.National Consumer Commission spokesman Trevor Hattingh said that investigations of the scheme were continuing...
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