Bushiri Ponzi Scam..
What kind of investment earns you 300% profit in 2 weeks?
Flamboyant and embattled prophet, Sheperd Bushiri is said to be in deep debt
In a continued acceleration of unfortunate events for the troubled man of God, Prophet Shepherd Bushiri, it has also been revealed by inside sources that the prophet is in debt of R2 billion.
Bushiri runs SB Forex Trading a platform that trades in foreign exchange that but has now swindled from his church followers who registered for Shepherd Bushiri Forex Trading.
We can report that early this year, in a bid to expand his wealth, Prophet Bushiri launched SB Forex Trading and asked his congregants to open accounts and invest in the trading business.
He also opened an office at Sandton Tower in Johannesburg.
He promised triple returns of income within two weeks of investments.
Most people invested thousands of rands in the company hoping to get instant miracles from the gambling company that Bushiri had introduced.
Authorities in South Africa are already looking at this matter as a ponzu scheme, a criminal way of extorting funds from unsuspecting clients.
“A Ponzi scheme is a fraudulent investment operation where the operator generates returns for older investors through revenue paid by new investors, rather than from legitimate business activities or profit of financial trading.”
Two weeks have turned into months and months went, one after another with no return from the business.
This led to speculations among members who had a collective investment of over R2 billion.
Bushiri was seen splashing expensive gifts to his wife and he photogra he’d himself in new luxury cars.
Knowing that he misused and abused the funds to his extravagant spending and posh lifestyle, Bushiri called for a family meeting that took place in Malawi, Area 43 where the man of God rents a mansion.
He opened up to his Malawian members and discussed how they are going to reimburse people’s money because most of them have started troubling the Forex office in Sandton at The World Trade Centre Tower.
On Sunday during live service, Bushiri spoke about the money saying people simply have to exercise patience.
“Forex Trading needs patience. You cant just invest today and get paid tomorrow. I understand most people are losing hope but dont worry, you will get the money once returns have been made. I am a prophet I cant lie,” explained Bushiri during a service that this reporter attended at Thswane Events Centre, Pretoria Show Grounds.
One of the people who invested R200 thousand said, he feels the prophet has swindled their money and will not give them back.
“Look man, even the office of Forex Trading no longer operates now. When you go there its one story after another and some people have been fired. I used to believe in Bushiri and I thought he was a business man. He is just a conman and trickster. How can he say we will get returns in two weeks but its now over four months? What he is doing is not fair and I wonder why the South African government lets him do this. I just need what I invested I dont care about profits anymore,” explained the investor.
Bushiri is slowly shutting down his companies and of late, he has shutdown Bushiri Buzz, SB University that was operating illegally and SB Network that was not making profits.
He is reportedly to be failing to even pay his workers.
Culled From zambianobserver.com