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Sun International warns of scam

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The Facebook and What'sApp scam has similar characteristics to a Ponzi Scheme.

Photo: File

Sun International issued a warning onTuesday regarding certain fraudulent Facebook and WhatsApp posts – purportedly sponsored by Sun international – by individuals claiming to offer extraordinary and fictitious returns for money invested in an alleged investment scheme which has similar characteristics to a Ponzi Scheme.

Sun International Chief Operating Officer, Thabo Mosololi, said according to the scam, individuals are invited to invest cash in amounts of between R1000 and in excess of  R10 000 for silver, gold, diamond or platinum tiered investment vehicles, in return for which they will allegedly earn almost three times their original investment in less than a month.

“Sun International does not offer such a scheme which is patently false and is clearly intended to defraud people of their money,” Mosololi said.