Victims of online Ponzi scheme, Savanah Brokerage, have threatened to sue telecommunications giant, MTN over their locked-up funds.
MTN in a press statement two weeks ago said reversal of the monies can only be paid after investigations into the matter are concluded.
“MTN uncovered the suspected Ponzi scheme and took steps to safeguard the interest of its customers by freezing the wallets and reporting the case to the police and the regulator for investigation.
“The regulator, through the Financial Intelligence Centre, is currently investigating the suspected fraudulent or investment scam in relation to Savanna Brokerage Investment.
“MTN is working closely with the regulator to ensure the right procedure is followed and all relevant obligations are fulfilled before disbursement of any funds.
“MTN awaits further direction and clarification on the frozen funds and assures its valued customers that once we receive a clear directive after the investigation we shall comply,” the statement read.
The victims of the Ponzi scheme served notice that they are not enthused with the measures being taken by MTN to release their investments and that they will be forced to go to court if the process is not sped up.
“We have already sent petition to the stakeholders concerned and if that fails we will see whether we can get a lawyer to handle the whole issue,” one of the victims Bukari Zakaria told Starr Business’ Osei Owusu Amankwaah.
The Merchant accounts holding the funds which have been blocked include;
DE-CAPILLON ENTERPRISE – 557930040
KWAME BADERU ISAAC VENTURES KWAME BADERU ISAAC – 249305341
HAWABOOK VENTURES – 557955700
MATILDA YEBOAA – 240211070
AL-AWWAL CATERING SERVICE – 542074011
ONE ON ONE VENTURES LATERBIOKOSHIE GR – 542056755
KONADU ENTERPRISE – 241766233
Background
Per the address on the website before it went down, Savanna Brokerage is a Kenyan Company pointing to a location in Nairobi.
According to the website, the company started operations in Ghana from 2014.
They were operating three packages; Knight Package, Queen Package and Kings Package.
Knight Package was a weekly form of investment – every customer was to invest more than GH 50. You were promised 10% on your money on weekly basis so you get 40% return on your capital at the end of the month.
Queen package; you get 60% on your investment money after a month.
Kings Package promised 100% return on an investment. The investment was to last for three month.
To invest, the victims say, the money is to be paid through an MTN Merchant and the operators of the scheme get access to the funds.
Currently, MTN appears to have blocked all the merchant accounts. But there are huge monies stack in the accounts.
The merchants are not able to go for the funds due to some irregularities and tax issues. The accounts are also under investigation by the telecom company.
Source: Ghana/Starrfmonline.com/103.5FM
