Victims of 'ranching' scam have a chance to get money back

A preservation order has been obtained on one of six bank accounts used to dupe potential investors in a “ranching” scheme.

The SAPS commercial crime investigation unit in East London is calling on victims of the online scam to come forward to claim their money.

Spokesperson Col Priscilla Naidu said people joined the investment scheme known as Ant Ranch last year where they registered online to be ranchers.

“They invested money to purchase animals such as geese, snakes and donkeys. However, they were not actually receiving the animals — this was just a way of labelling the investment,” she said.

“The prices of the animals differed according to their sizes and the rancher would receive dividends daily, depending on the type and price of the animal purchased.”

Money to purchase animals was deposited by the “ranchers” into more than six bank accounts with different references.

There was no direct communication with the people liaising with “clients” during their investment period and communication was only done through WhatsApp messages.

“A substantial amount of money was invested as the ranchers were seeing a return on their investment deposited into their accounts daily. [Because] they could see their investment thriving they did not withdraw their increases, instead some left it to increase while others invested more money.”

On October 10, when the investors logged in to the Ant Ranch to check their investments, the site was blocked and they couldn't gain access. The WhatsApp numbers also stopped working.

A case of fraud was opened.

So far there are seven complainants: five from East London and two from Gqeberha. Police believe there could be more victims.

Naidu said the investigating officer succeeded, with the assistance of the Asset Forfeiture Unit, to freeze one of the accounts and a preservation order was obtained.

“Police appeal to victims of this fraud to come forward before February 21 so that money can be paid out to them, failing which the money will be forfeited to the state.”

Det Sgt Ayanda Ntobongwana from the East London commercial crime investigation unit may be contacted on 043-708-7178, 043-708-7174 or 072-393-9353 (WhatsApp messages only) with all particulars/proof. She will respond or make contact with the sender. When contacting the investigating officer, reference your response to the Ant Ranch case.

Naidu urged the public to be wary of investment schemes promising hefty returns and requesting deposits into multiple bank accounts.

“These are red flags signalling potential scams, prompting caution and vigilance among investors.”

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