A WOMAN at the centre of an alleged pyramid scheme potentially worth millions of rands appeared briefly in the Johannesburg specialised commercial crime court yesterday.
Beauty Rakgokong, 36, is alleged to have recruited and "collected investments" in a scheme that promised to triple investors' monies in just 10 days.
An elderly man allegedly invested R14000 of his daughter's ilobolo into the scheme but received nothing in return.
Most of the investors are elderly people in their late 50s and early 60s.
The alleged scheme was operated through a company called Cool Angel Placement Agency which, according to the Companies and Intellectual Property Registration Office database, has its principal business listed as "all aspects of placement".
Rakgokong is out on R20000 bail.
Captain Jan Claassen told the court the potential loss could be "triple" the R500000 the scheme is estimated to be worth.
Police are also searching for Caroline Mthombeni, a Zimbabwean national said to be the brains behind the alleged scheme.
Rakgokong will return to court on April 6.
People who have invested in the scheme are urged to call 071-603-7891.
Pyramid accused in court
A WOMAN at the centre of an alleged pyramid scheme potentially worth millions of rands appeared briefly in the Johannesburg specialised commercial crime court yesterday.
Beauty Rakgokong, 36, is alleged to have recruited and "collected investments" in a scheme that promised to triple investors' monies in just 10 days.
An elderly man allegedly invested R14000 of his daughter's ilobolo into the scheme but received nothing in return.
Most of the investors are elderly people in their late 50s and early 60s.
The alleged scheme was operated through a company called Cool Angel Placement Agency which, according to the Companies and Intellectual Property Registration Office database, has its principal business listed as "all aspects of placement".
Rakgokong is out on R20000 bail.
Captain Jan Claassen told the court the potential loss could be "triple" the R500000 the scheme is estimated to be worth.
Police are also searching for Caroline Mthombeni, a Zimbabwean national said to be the brains behind the alleged scheme.
Rakgokong will return to court on April 6.
People who have invested in the scheme are urged to call 071-603-7891.
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