"I joined this EARLY February this year, this coming weekend they said there will be a meeting in Joburg an I promised to be there. This is how they said it works: You buy stock for R5,400 and get R12,500 after 10 weeks. Buy special and each unit is R4,000 then get R10,000 after 16 working days."Look closely at the things these people say. You can get a 131% profit on an investment in just 10 weeks? Or 150% in just 16 working days? That business about buying Chinese electronics for Africa but the company doesn't have enough cash to buy them? Surely with 150% profits they'll be rolling in cash by now?
"A friend has jus invited me to join and invest in the company, I wnt to knw if its genuine if at all you knw something about it."
"When we are recruited we are told the company is involved in selling electrical appliances sourced from China. The information is that the company has identified ready market in Africa for this electrical appliances but do not have enough money to buy stock direct from the manufacturer in China. Therefore when we are recruited we are told the money we invest will be used to purchase the stock that will be later sold the ready found market in Africa."
"I refused to join but my fiancee stubbornly secured a personal loan and invest the whole amount but up to now the she has not received the promised returns in investment. Can you please confirm if this is a scam."
"It operates like this, You deposit money into their accounts based in South Africa and after a certain specific period you get twice your money depending on the amount you have deposited. I am wondering whether its genuinely and safe to do so, or it is just another scam."
Add to this the apparent history of these people being investigated and, I'm told, being shut down in South Africa and you have FAR too much reason to be suspicious about them. Newspapers in South Africa reported the prosecution of the founder of the earlier scheme in South Africa here and here including this:
"Young Stars Investments told Mabyana that the company imported goods from abroad and sold them locally for a big profit. He was told that his R70000 would rake in a profit of R80000 over 12 months."There were also newspaper reports of their demise in Uganda here which included:
"Young Star Trading then sources goods from China or Hong Kong using the money collected from its clients for sale in another country, from which the depositors are paid 30 percent interest on their investment after seven weeks.Does that sound familiar? This is a scam. Stay FAR away from them!
But five months down the road, most people who deposited their money in the company are crying foul play after realising that they could have been fleeced of their money."