Almost 2 500 investors, many of whom were encouraged to join by their local pastors, received a letter this week telling them the company’s operations had been suspended following a court order.
The alleged scheme, thought to be worth over R450 million, involved the distribution of diesel to foreign countries. Investors were promised up to an 8 percent monthly return on their investment.
The company, owned by Joburg-based entrepreneur Yunus Moolla, was suspended this week pending an investigation in terms of the Banks Act.
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