Image via Adobe stock
The fraudsters’s investment scam involves taking deposits under the guide of providing investment opportunities under the name of Trade & Investment KwaZulu-Natal (TIKZN)
Image via Adobe stock
Frausters using the name of Trade & Investment (TIKZN) have swindled victims of thousands of rands in an investment scam the government agency has warned.
Trade & Investment KwaZulu-Natal (TIKZN) has warned the public to guard against an investment “Ponzi” scheme that has been targeting unsuspecting victims in the province by taking their money and promising them a huge return on investment within a few days. The fraudsters, who pretend to be employees of TIKZN, contact victims via social media such as Whats App, Insgtagram and Facebook, and ask for deposits of thousands of rands, before disappearing.
The investment scam fraudsters take the deposits under the guide of providing finance investment opportunities under the name of Trade & Investment KwaZulu-Natal (TIKZN).
However, TIKZN CEO Neville Matjie warned that the agency does not require any form of payment for its services which are free to stakeholders.
“We empathise with the victims and we have encouraged them to report these matters urgently to SAPS. TIKZN is also engaging with law enforcement officials to ensure that the culprits are brought to book so that we bring a speedy end to this type of crime. We categorically state that this fraud is perpetrated by persons external to Trade and Investment KwaZulu-Natal and that this organisation does not partake or promote any type of Ponzi/ Pyramid scheme promising high investment return. Please do not fall into the trap of a get rich quick scheme” Matjie said.
TIKZN has advised people to avoid the investment scam by knowing the steps it follows facilitating an investment project: