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Police investigate several suspected pyramid schemes

The commission said a report into nine suspected pyramid schemes will be released on Monday.

FILE: Police gather on the streets surrounding Kya Sand as community members protested over service delivery in the area on 12 October 2015. Picture: Reinart Toerien/EWN.

CAPE TOWN - Police are now leading the investigation into several suspected pyramid schemes, following a probe into nine firms by the National Consumer Commission.

The Commission however could not confirm which businesses would be criminally investigated.

The National Consumer Commission could not confirm a report that World Ventures has been classified as a criminal operation following their four month investigation.

The commission's Trevor Hattingh said a report into nine suspected pyramid schemes will be released on Monday.

World Ventures and eight other businesses, including Kipi, NMT Investments and the MMM scheme, have been probed after the reserve bank raised concern about suspicious activities on their accounts.

Hattingh said they have handed over the evidence they have gathered to police.