Reporting possible (probable) new Ponzi?

buffalobill

buffalobill

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Joburg, South Africa.
Who would I go to if I wanted to report a new Ponzi scheme? I've asked the one MyBroadband email I can find, but would like more ideas. Ones that will deliver action.
It's one that entices you in with easy small money, then increasingly pressurises you to spend on BTC/USD trading and gives impossible 50% returns. Maybe I got in early and would have made a quick buck, but I backed out when they wanted R25k and lost R10k.
Dumb me, I know.
 
Many on here have gone through the effort to shut them down. A few individuals have made commendable efforts, but it's a challenging journey for those who may not fully appreciate the work being done. I suggest reporting it to the FSCA as mentioned, warning people you know, and moving on.
 
epah said:
No its a not a crime, If fools choose give away their hard earned money then there is no crime committed. No body put a gun to their heads.
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Uhm... I know we're in Africa where fraud is part and parcel of our lives, but last I checked it's still (in theory at least) a crime.
 
buffalobill said:
Who would I go to if I wanted to report a new Ponzi scheme? I've asked the one MyBroadband email I can find, but would like more ideas. Ones that will deliver action.
It's one that entices you in with easy small money, then increasingly pressurises you to spend on BTC/USD trading and gives impossible 50% returns. Maybe I got in early and would have made a quick buck, but I backed out when they wanted R25k and lost R10k.
Dumb me, I know.
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Start a thread on here specifically with their name and "possible fraud" explicitly in the thread heading. That way, whenever it gets googled, it will appear at or near the top of the search results.

The FSCA are about as useful as my dog's 2-day old stoep turds when it comes to ponzi schemes. They rock up after the damage has been done.
 
I still get that AI South African newsreporter scams on youtube, months after mybb did an article on it. I don't think anyone cares.
 
skimread said:
I still get that AI South African newsreporter scams on youtube, months after mybb did an article on it. I don't think anyone cares.
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At least if someone does their due diligence, and googles it they get a post pointing out it is a scam

Though i don't get why some of these need any next step to even google it

But i suppose it is as we get older our faculties fade and we become more susceptible, so we might need some extra flags , which posts / articles are hopefully
 
buffalobill said:
Who would I go to if I wanted to report a new Ponzi scheme? I've asked the one MyBroadband email I can find, but would like more ideas. Ones that will deliver action.
It's one that entices you in with easy small money, then increasingly pressurises you to spend on BTC/USD trading and gives impossible 50% returns. Maybe I got in early and would have made a quick buck, but I backed out when they wanted R25k and lost R10k.
Dumb me, I know.
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Sounds like pretty standard "trader" ponzi
 
PsyWulf said:
Sounds like pretty standard "trader" ponzi
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actually not even ponzi its a one on one scam

Money is never to sent to the invester.

I give you R50k you tell me its now R100k and that I must pay another R25k to get it. You essentially never get 1c
 
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