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NCC concludes preliminary probe into 9 suspected pyramid schemes

Several businesses were investigated after the Reserve Bank raised concern over suspicious account activities.

A judge's gavel. Picture: RSC Inc.
pyramid schemes,NCC
Local

CAPE TOWN – The National Consumer Commission (NCC) has concluded a preliminary investigation into nine suspected pyramid schemes.

Last year Eyewitness News investigated several pyramid schemes following the probe by the NCC. 

By the end of 2015, the commission could only say they were close to rounding up their findings.

The commission’s Trevor Hattingh says they will release a report following the organisation's investigation into nine suspected pyramid schemes, on Monday.

Several businesses, including world ventures, Kipi, NMT Investments and the MMM Scheme have been probed after the Reserve Bank raised concerns about suspicious account activities.

Hattingh says now that they have completed their investigation, the police will take over.

(Edited by Refilwe Pitjeng)

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