Sharemax outcome

[KMDenigma]

I couldnt seem to find any forum regarding whats going on at sharemax to rant in so i have decided to open a new one...

Does anyone have any opinions on what may be going on at sharemax as the latest news article does not look good at all for anyone who has money in this scheme... i was under the impression that they were working to recover some of the investors money but now that outcome seems to be fading.

any ideas or comments on this would be appreciated as it would be nice to see what some of the other investor's thoughts on this may be...

 

[envo]

Up to now I haven't even heard of Sharemax. Why is your money not with Alexander Forbes or Allan Gray instead?

 

[R13...]

Is sharemax the alleged ponzi scheme involved with that incomplete mall in Pretoria?

 

[jem]

As far as I know, they went from being under curatorship to full liquidation during the last 6 months.

Under correction tho...

 

[pezulu]

Is sharemax the alleged ponzi scheme involved with that incomplete mall in Pretoria?

Yes.

Apparently the managers of the Sharemax scheme took the members money, and used it for themselves.
There were a number of articles on it over the last few years.
Why the managers weren't criminally charged is not clear.

One of them has a yacht in the Aegean sea, hunting farms/lodges all over the country, and lives in a huge mansion.
All bought with shareholder money.

My parents had put some of their savings in Sharemax, and lost a couple of mil.
They are luckier than some other shareholders that lost everything, as they had spread their saving over a few places.
Still, it sucks that they had to lose what they did.