A Hawks investigation has been launched into an alleged investment fraud involving Bitcaw Trading Company, commonly known as BTC Global, after more than 28,000 investors are believed to suffered losses exceeding R1 billion and counting.<\/p>\n
In a statement<\/a> <\/strong>released on Friday (25 May),\u00a0the Hawks said that the investigation involves a company named BTC Global, which told clients they would earn 2% per day, 14% a week and 50% in a month.<\/p>\n As part of the arrangement, payments\u00a0were allegedly made every Monday. While some of the investors were reportedly paid in terms of this agreement, the payments then suddenly stopped,<\/p>\n Acting national head of the DPCI, Lieutenant General Yolisa Matakata, encouraged members of the public who have invested in this scheme to come forward.<\/p>\n \u201cThis may prove to be the tip of the iceberg with potentially thousands more yet to discover they\u2019ve lost money,” she said.<\/p>\n “(This) is a timely reminder that unregulated, unusual investments at home or abroad come with a high risk that people could lose all their hard-earned pension and other saving.<\/p>\n \u201cDespite the setback we want to assure the affected individuals that we are investigating the matter but due to the large volumes, it will take time to conclude,\u201d said Matakata.<\/p>\n