Victims of 'R200 WhatsApp stokvels' share their dismay at losses, being blocked by admins

schumi

Honorary Master
Joined
Mar 26, 2010
Messages
22,267
Unemployed and lured by the promise of quick growth on a small cash outlay, Bathabile Zondi is one of many South Africans who have fallen victim to mushrooming “WhatsApp stokvels”.
Zondi said she was recruited by friends in July, who had each received R1,200 after “joining” with only R200.
“At first I thought it wasn’t true, but when they showed me proof of money getting into their accounts, I decided to join,” she told TimesLIVE.
A hopeful Zondi said she borrowed R400 from her pensioner grandmother, promising to return it a week later, in line with what she was told by her recruiters.
“There is a WhatsApp group that has all the members, the administrator has a list of 11 people who must be given R200. After each is paid, we move on to the new one and the cycle continues ...” she explained.
Thuthukile Mbhele said she heard of the stokvel on Facebook, where a link to the WhatsApp group was provided. She joined. When a person joins, they are given contact details and an account number to deposit the money into.
A WhatsApp group called “Lifetime investment split”, seen by TimesLIVE, had 15 members. Each time a person joined, they would be welcomed and sent a message by the administrator.

More at:
 

Lupus

Honorary Master
Joined
Apr 25, 2006
Messages
16,267
I think it worked perfectly, the guy who implemented it did get quick growth from R200.
 

ToxicBunny

Honorary Master
Joined
Apr 8, 2006
Messages
82,385
If I knew the cops/FSB would actually go after the people behind this, I'd happily sacrifice a few R200 notes... but we all know the reality...
 

shakes1

Expert Member
Joined
Jun 1, 2010
Messages
1,314
Bunch of us have been raiding the groups for the last 24 hours, getting blocked more frequently now but have had many many people leave the groups after our warnings.

Anyone care to join in?
Ye, send details!
 

AstroTurf

Lucky Shot
Joined
May 13, 2010
Messages
27,563
Ye, send details!
See if this is still active, easiest is to just find one of the websites or facebook pages and "Join"


Don't expect people to be grateful, they do not like knowing they are being scammed or busy scamming people.
They get very defensive, usually the top/admin either have been paid out or keep convincing people they have been and they accuse you of being the scammer :/


Sending them stuff like this:

You are being scammed, this is a ponzi scheme, not a stokvel.


Who is taking your money? Us or them?


Don’t be fooled out of your cash by these scammers!





Google for Stokvel scam if you want proof.





Knowingly participating in a pyramid scheme is illegal, immoral and you are stealing money from the poor.





https://businesstech.co.za/news/mobile/345424/new-whatsapp-scam-doing-the-rounds-in-south-africa/





https://www.timeslive.co.za/news/south-africa/2019-10-09-dont-fall-for-the-r200-whatsapp-stokvels-scam-association-warns/





http://www.capetalk.co.za/articles/363252/don-t-get-caught-out-by-the-r200-whatsapp-stokvel-scam-spreading-across-sa





https://en.wikipedia.org/wiki/Ponzi_scheme





https://en.wikipedia.org/wiki/Pyramid_scheme







722862
gtqtypt.jpg


mlm-meme-pyramid-scheme.jpg
 

Attachments

eg2505

Honorary Master
Joined
Mar 12, 2008
Messages
16,013
who would knowingly try their luck with such schemes?
I mean are people that much uneducated to fall for these scams?
 

konfab

Honorary Master
Joined
Jun 23, 2008
Messages
21,185
who would knowingly try their luck with such schemes?
I mean are people that much uneducated to fall for these scams?
It has nothing to do with education and everything to do with human nature. People are simply lazy. They will always believe they can get something for nothing.
Land, medical treatment, welfare, electricity, water housing...

Reality prevents this from happening. On a fundamental level, it is the laws of thermodynamics that prevent people from getting stuff for free.

Either you live in reality or you don't. I find most people deliberately choose to ignore reality.
 

C4Cat

Executive Member
Joined
Nov 9, 2015
Messages
8,727
It has nothing to do with education and everything to do with human nature. People are simply lazy. They will always believe they can get something for nothing.
Land, medical treatment, welfare, electricity, water housing...

Reality prevents this from happening. On a fundamental level, it is the laws of thermodynamics that prevent people from getting stuff for free.

Either you live in reality or you don't. I find most people deliberately choose to ignore reality.
I disagree, I think it's mostly lack of education and ignorance of how these schemes work. Here on myBB, we're all educated and so we forget that things that seem obvious to us are not just intuitively known, but is based on knowledge and education. It seems obvious to us that there is no quick get rich scheme, but we had to learn this as well. Personally, I'm the laziest person I know. Idleness is what I aspire to. I would like to get my basic needs met without having to work, which is why I'm a strong believer in UBI, etc. I'm educated though so I know the limits of my laziness!
 

thechamp

Honorary Master
Joined
Feb 26, 2011
Messages
21,596
I disagree, I think it's mostly lack of education and ignorance of how these schemes work. Here on myBB, we're all educated and so we forget that things that seem obvious to us are not just intuitively known, but is based on knowledge and education. It seems obvious to us that there is no quick get rich scheme, but we had to learn this as well. Personally, I'm the laziest person I know. Idleness is what I aspire to. I would like to get my basic needs met without having to work, which is why I'm a strong believer in UBI, etc. I'm educated though so I know the limits of my laziness!
I agree, all it takes is some propaganda about banks not wanting people to be rich and people catch some revolutionary feelings and part with their hard earned money to such schemes.

MMM people would never forget to tell you about this grand conspiracy of keeping black people forever poor.
 

upup

Executive Member
Joined
Jun 1, 2009
Messages
6,350
Anyone mind to lent me R200, I promise to give it back next week.
 

Polymathic

Honorary Master
Joined
Mar 22, 2010
Messages
14,020
Anyone mind to lent me R200, I promise to give it back next week.
No problem i have it in my PayPal but I need to have a minimum of R25000 to take the money out, send me the R50 and I'll give you the R200 + another R1000 for helping me out.
 

Cray

Honorary Master
Joined
Oct 11, 2010
Messages
19,967
It has nothing to do with education and everything to do with human nature. People are simply lazy. They will always believe they can get something for nothing.
I sometimes wonder how many of these people are truly ignorant about pyramid schemes... While I am sure there are people out there that are genuinely fooled, I wonder how many people think that if they get in and out early enough they can be one of the few to benefit from such a scheme - knowing fully well that people who join later are going to get screwed..
 
Top