The love of money is definitely the root of evil. Money-mad swindlers will always find ways to con people, but some consumers also never learn that there are no short cuts to making money.
The love of money is definitely the root of evil. Money-mad swindlers will always find ways to con people, but some consumers also never learn that there are no short cuts to making money.
People have been warned time and again about pyramid schemes, but they continue to take chances.
Three women from Tshwane claimed that they were duped into taking second bonds to invest in The Investors Club Fund. Now they regret it because the fund's Lelanie le Roux has not paid them interest for the past six months.
The three mothers invested R350000 after being promised lucrative monthly interest.
Neo Bahula received R6000 a month after she invested R200000 last year. After getting three payments, she recruited a friend.
"I thought the scheme was legitimate when I told my friend and spread the word because I trusted the colleague who had recruited me," said Bahula.
She said her relationship with the colleague who had recruited her turned sour and she feels guilty for recruiting her friend Jane Mokoena. Mokoena took a second bond for R100000 to invest in the scheme. Mokoena recruited a friend, Mavis Ntshingila, who also took a second bond for R50000 and invested it.
The women received interest for six months. Bahula received R36000, Mokoena R18000 and Ntshingila R9000.
Mokoena said: "I am very bitter. I still have to repay the R100000 loan."
Ntshingila, a single mother of three, said she invested in the scheme to educate her children.
Bahula said Le Roux told her that she had invested their money by giving loans and debtors interest would triple their investment.
The Investors Club Fund is not registered as a moneylender nor does it subscribe to the National Credit Agreements Act. Le Roux admitted taking money from the women and said that her attorney would respond to Consumer Line, which he has not done.
Ntshingila, Bahula and Ntshangase have laid criminal charges against Le Roux.
Women lose fortunes in yet another scam
The love of money is definitely the root of evil. Money-mad swindlers will always find ways to con people, but some consumers also never learn that there are no short cuts to making money.
The love of money is definitely the root of evil. Money-mad swindlers will always find ways to con people, but some consumers also never learn that there are no short cuts to making money.
People have been warned time and again about pyramid schemes, but they continue to take chances.
Three women from Tshwane claimed that they were duped into taking second bonds to invest in The Investors Club Fund. Now they regret it because the fund's Lelanie le Roux has not paid them interest for the past six months.
The three mothers invested R350000 after being promised lucrative monthly interest.
Neo Bahula received R6000 a month after she invested R200000 last year. After getting three payments, she recruited a friend.
"I thought the scheme was legitimate when I told my friend and spread the word because I trusted the colleague who had recruited me," said Bahula.
She said her relationship with the colleague who had recruited her turned sour and she feels guilty for recruiting her friend Jane Mokoena. Mokoena took a second bond for R100000 to invest in the scheme. Mokoena recruited a friend, Mavis Ntshingila, who also took a second bond for R50000 and invested it.
The women received interest for six months. Bahula received R36000, Mokoena R18000 and Ntshingila R9000.
Mokoena said: "I am very bitter. I still have to repay the R100000 loan."
Ntshingila, a single mother of three, said she invested in the scheme to educate her children.
Bahula said Le Roux told her that she had invested their money by giving loans and debtors interest would triple their investment.
The Investors Club Fund is not registered as a moneylender nor does it subscribe to the National Credit Agreements Act. Le Roux admitted taking money from the women and said that her attorney would respond to Consumer Line, which he has not done.
Ntshingila, Bahula and Ntshangase have laid criminal charges against Le Roux.
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