Home Scam/Fraud Bad news for Coinit beneficiaries, as Hawks set sights on them

Bad news for Coinit beneficiaries, as Hawks set sights on them

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BAD NEWS awaits investors, who were lucky enough to earn lucrative interests from red-flagged Ponzi scheme Coinit Trading, as authorities will turn to them to recover part of billions of rand of investments, in order to refund those who lost all their hard-earned cash.

Most unsuspecting investors did not only invest their pensions and life savings, but also went overboard by taking bank loans – worth hundreds of thousands of rand – to try their luck with Coinit. They are now blaming the Directorate for Priority Crime Investigation (Hawks) and FSCA for meddling with the ponzi scheme, which had promised them financial freedom.

Some…

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