The fraudulent scheme has left a trail of victims in its wake, stripping investors of their savings, homes and pensions. Daily Maverick is in contact with about 600 investors, 236 of whom have lost a cumulative amount of between R12-million and R22.8-million.
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.