DStv Channel 403 Saturday, 02 November 2024

Consumer Commission warns of piggy ponzi scheme

JOHANNESBURG - The National Consumer Commission is flagging little piggies who are going to market.

It says Piggy Trading Farm could be a multiplication scheme. 

The NCC says the company offers the purchase of pigs from the farm or virtual buying and owning.

The Consumer Protection Act describes a multiplication scheme as a guarantee of annual interest, at least 20 percent above the repo rate.

The Commission's Joseph Selolo says they have already been granted a preservation order for one of the accounts of the seller, valued at millions of Rand.

Paid Content