Trouble over trucking

Consumers who have been eager to invest in the trucking business should have heeded our advice. Several articles have warned about consumers who lost fortunes trying to own shares in trucking business.

Consumers who have been eager to invest in the trucking business should have heeded our advice. Several articles have warned about consumers who lost fortunes trying to own shares in trucking business.

We warned about trucking companies that recruit people for five-year terms at a non-refundable fee.

These companies promise to boost shareholders' profits, but instead entrepreneurs see no profits - and lose their capital.

Multiwave Financial Services, trading as Northern Trucking Development, is yet another company that has been accused of swindling consumers.

Four people who each paid R20000 to Multiwave complained that they have not enjoyed any benefits the company promised them.

Tshidi Magau cancelled her membership and was issued a R20000 cheque as a refund, but the cheque bounced.

Zanele Chiloane also invested R20000 in the company, but has seen no profits. And neither has Veronica Peete.

Dan Mofokeng, who invested R10000 in 2005, withdrew his membership a year ago and was told he would have to wait for a year to be refunded. After a year, he was told to wait for another two months.

When Consumer Line approached Multiwave for comment, Visser du Plessis said he could not find such a person in their system. We faxed him their letter undertaking to refund Mofokeng in September. Responding to Chiloane's complaint, Du Plessis said a business plan had been prepared for her and that a contract for trucks had been obtained.

He blamed Chiloane for the delay.

Du Plessis said: "The new Fica law came into operation in June and we asked Chiloane to fill out a new application because the old one was no longer valid.

"There was no response from her."

He referred us to a clause binding Chiloane to the contract for a year.

The commercial crime unit has undertaken to investigate.

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