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Thousands of investors in financial nightmare after social media stokvel scam

The Financial Sector Conduct Authority (FSCA) is investigating United African Stokvel after obtaining evidence of an alleged scam.

Bruce whitfieldNeesa moodleyShirley langbeinDarren langbeinFinancial sector conduct authorityUnited african stokvelFacebook based united african stokvelDaily maverickMoney showPersonal financeDaily maverick personal finance

South Africa: Social Media Stokvel Scam Leaves Thousands of Investors in a Financial Nightmare

South Africa: Social Media Stokvel Scam Leaves Thousands of Investors in a Financial Nightmare
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

Financial sector conduct authorityUnited african stokvelFacebook based united african stokvelUnited africanDaily maverick

Thousands of investors in financial nightmare after social media stokvel scam

Thousands of investors in financial nightmare after social media stokvel scam
capetalk.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from capetalk.co.za Daily Mail and Mail on Sunday newspapers.

Bruce whitfieldShirley langbeinDarren langbeinNeesa moodleyFinancial sector conduct authorityUnited african stokvelFacebook based united african stokvelDaily maverickMoney showPersonal financeDaily maverick personal finance

United African Stokvel social media scam leaves thousands of investors in a financial nightmare

Almost 100,000 people appear to have fallen victim to what seems to be a scam run by the Facebook-based United African Stokvel, which was the subject of a search-and-seizure raid by the Financial Sector Conduct Authority (FSCA) towards the end of June.

Shirley langbeinStokvel facebookDevi sankaree govenderAndrew lukheleRishana singhDarren langbeinFinancial sector conduct authorityNational credit regulatorNational credit actNational stokvel associationFacebook based united african stokvelUnited africanDaily maverickUnited african stokvel facebookAfrican stokvelUnited african stokvel