JOHANNESBURG - Angry members of the community and fed up investors on Wednesday allegedly set alight a home belonging to the family of the owner of an apparent Ponzi scheme in Tsakane township, Ladysmith, in KwaZulu-Natal after its collapse.
For months now, Mbatha's Bitcoin Wallet has caused a stir in Ladysmith by promising to pay 100% returns on monetary deposits in only 15 working days. The allure of easy money had seen more and more hopeful people depositing their money into the investment scheme, with some investing as much as R100,000 in cash or more at a time.
Mbatha had claimed that the deposits made were invested in cryptocurrency Bitcoin and cashed in after some time by simply selling it back to the market at a higher price.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IOL EXCLUSIVE: We chat to 'Stranger Things' actress Natalia Dyer | IOL EntertainmentMarchelle Abrahams chats to ‘Stranger Things’ cast member Natalia Dyer on her role as Nancy Wheeler.
Source: IOL - 🏆 46. / 51 Read more »
Ekurhuleni pleads with community not to 'attack' paramedics | IOL NewsThe City of Ekurhuleni's Disaster and Emergency Management Services (DEMS) on Monday pleaded with the public not to attack emergency personnel.
Source: IOL - 🏆 46. / 51 Read more »
Immunity of papal ambassador to France lifted amid sex assault claims | IOL NewsThe Vatican has lifted the immunity of the papal ambassador to France, who is under suspicion of sexual assault, the French Foreign Ministry said.
Source: IOL - 🏆 46. / 51 Read more »
LOOK: Horses found starving confiscated by Bloemfontein SPCA | IOL NewsThe SPCA on Monday confirmed it had confiscated 68 horses allegedly belonging to the Lesotho government's military unit over animal cruelty. Where is Afriforum and Gerrie Nel Disgraceful
Source: IOL - 🏆 46. / 51 Read more »
Cele promises swift action to address spate of killings in Philippi | IOL NewsPolice Minister Bheki Cele promised disgruntled residents of Philippi East in Cape Town that proper interventions will be ...
Source: IOL - 🏆 46. / 51 Read more »
Prosecutors: Jeffrey Epstein lured underage girls to his mansions for sex acts | IOL NewsAmerican financier Jeffrey Epstein was charged with sex trafficking on Monday, as prosecutors accused him of luring dozens of girls.
Source: IOL - 🏆 46. / 51 Read more »