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Ponzi Scheme: Beware of Latest Cash Scam

After the collapse of the MMM scam, criminals are on the prowl to capture more desperate investors - one such man is Bandile Tshabus, who has introduced an investment opportunity via Facebook.

Logged in as Anza Tshabuse, the 27-year-old runs an investment scam known as Power48 where he promises investors a 40% interest growth in 48 hours.

“To the current investors. . . you started with us and will get rich with us. Be patient and you will be enjoying your success.”
The MMM Scheme has Creamed People of their Hard-earned Cash 

Bridget Thuso (27) bought his line hook, line and sinker! She said she met Bandile two years ago as they were both in the events business.

“He invited me to join the scheme on Facebook and promised that if I deposited the money into his account it would have a 40% interest growth within 48 hours.

“He said I must email him the proof of payment and I would receive the money with interest after 48 hours. He used to post pictures of his happy clients after they allegedly received the money.

"That’s when I became convinced that the scheme was legitimate.”

Bridget invested R4 500 and also got a few friends to join. She said: “When it was payback time I got stories. Bandile was now giving me the runaround and when I demanded answers, he blocked me on Facebook.”

When contacted, Bandile said he doesn’t discuss his private matters in the media and hung up.

However, his mother Phindi Tshabuse, confirmed that Bandile was running the scheme. She said they were trying to find a job for him so that he can pay back the people who were affected. - Daily Sun 

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