R4 billion Coin-it get-rich-quick scheme ends in tears, suicides georgeherald.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from georgeherald.com Daily Mail and Mail on Sunday newspapers.
Ina Opperman People took notice when the Asset Forfeiture Unit attached a plane, helicopter, car and properties to the value of R106 million last week. Coin-it helicopter loaded on a truck. Picture: Asset Forfeiture Unit
To most of the country Coin-it Trading was simply another in a long list of get-rich-quick schemes which results in a laugh from those who think they’re too smart to fall for these kind of scams.
But for many people, especially those in KwaZulu-Natal, who invested their inheritances, retrenchment packages, borrowed money, or savings in Coin-it Trading to an estimated R4 billion, the company’s collapse is no laughing matter.