Shyam
On behalf of Corporate Frauds Watch, I would like to thank your free-thinking reader, Kasey Chang, for bringing our attention to the following news.
A young couple who describe themselves as 'Business Owners,' were arrested last week in South Africa and charged with money laundering. They were trying to recruit people into the 'Amway' copy-cat 'business opportunity' fraud known as 'TVI Express'.
According to Karen Venter & Felicia Nkhwashu of the 'Polokwane Observer':
'Business owners and married couple, Mr Irvin Shirindzi (28) and his wife Glenda (25) were released on 3, 000 Rand bail each following a brief appearance on charges of money laundering in the Polokwane Magistrate’s Court on Monday.
Their appearance follows after their business, known as TVI Express was raided by the Police last Thursday following a joint investigation by the Hawks, Limpopo Organised Crime, Limpopo Crime Intelligence and Limpopo Commercial Unit.
TVI Express is seemingly marketing a scheme to clients that has already been declared a pyramid scheme and illegal in South Africa. According to media reports, TVI withdrew from the country as of 1 January (2011).
There are also media reports from other countries including the United States of America, United Kingdom, India and Australia regarding what has been labelled a scam.
It all boils down to people having to pay money to so-called make money and many people have allegedly been deceived by TVI Express’ "end poverty, come join us" slogan. To be a member one must pay an amount of 2, 500 Rand.
With the arrival of the Police at the business premises last week, Shirindzi was prevented from giving a presentation to his old and new clients on how the business operates and also what they will benefit if they recruit more than 15 members.
TVI Express promises that should their clients invest 21, 600 Rand each they will make 108, 000 Rand within a few months.
One of the clients who asked to remain anonymous said she was awaiting the start of the presentation when the Police arrived. "I’m new here and was willing to know how I can be a millionaire like other members when the police disturbed us," she said.
What these clients don’t know is that in December last year the Department of Trade and Industry confirmed TVI a pyramid scheme in South Africa and also launched criminal proceedings against the company and its distributors.
For some clients it is too late.
These clients have already paid their 21, 600 Rand each. They are expected to recruit 15 members before they can get their rewards.
Limpopo Police Spokesperson, Lt Col Mohale Ramatseba said 57, 779 Rand cash was confiscated from the couple’s business premises in Landdros Maré Street. A laptop, desktop computer, deposit slips of clients and business documents were also confiscated for further police investigations. The couple’s house in Sterk Park was also searched and documents were also seized.
Deputy Provincial Commissioner, Maj Gen Dibero Molatjana made a brief visit to the business premises on Thursday. She appealed to members of the community to be extremely careful of such schemes as they will end up losing their money. The Shirindzis will appear in court again on 14 June.' http://www.observer.
More than 12 months ago, Shyam, in response to a South African reader's inquiry, you condemned TVI Express as a dissimulated pyramid scheme and copy-cat of 'Amway.' http://corporatefraudswatch.
For years, the 'TVI Express' thieves have used the reality-inverting slogan: 'End Poverty, Come and Join Us!' Perhaps this will ring some loud alarm bells in the heads of the 'Club Asteria' sheep who have recently been bleating on the CFW Blog.
David Brear (Copyright 2011)
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