Ponzi schemes on sale at FNB

This may sound like a scam in itself but not to a mother who is now in doubt of how to pay her childrens school fees. Unknow to some FNB customers, staff at FNB had lured them into an FNB investment program. A programe they had no way of knowing was a scam in itself.

Losing between R400,000 and a million rand is nothing to throw away. In most schemes members are lured by high flying so-called rich individuals who make you promises of riches beyond your wildest dreams. After a few months invested members would receive returns on their investment. What they would not know is that this is not from growth of their investment but monies invested by other keen money-makers. This cycle continues as members add in the cash they have gained or add in more money to increase their investment.

When it comes to investments like this, when it is suggested by staff at your local trusted bank, would you trust it? Would you do your duty and look into it being legit or would you take their word for it? This is what seems to have happened to a few unsuspecting FNB clients. The number of clients affected is not known at this time. FNB has stated that they are investigating all cases reported to return funds to their customers.

Were you involved in this scam ? Tell us what you think.

Read the EWN article here

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