06 Jun 2023

Kutlwano Police Station Commander Superintendent Neo Serumola has warned that they will not hesitate to take action against any participant of pyramid schemes and other related activities.

Supt Serumola told BOPA in an interview on Tuesday that Section nine (9) of the Consumer Protection Act empowered the police to prosecute people who participate in such schemes.

The section states that any person who participates in a pyramid scheme is guilty of an offence and is liable, upon conviction, to a fine not exceeding P100 000 or to imprisonment for a term not exceeding five years, or to both.

Supt Serumola’s message comes in the wake of the increasing cases reported under the Ecoplexus pyramid scheme where people were defrauded of their hard-earned cash. 

Ecoplexus is allegedly a fraudulent investing scam, which generates returns for earlier investors through money taken from investors who joined at a later stage.

He explained that such cases were increasing at an alarming rate not only in his area of jurisdiction, but across all police stations around the country.

He further indicated that all the 91 cases reported under the Ecoplexus pyramid scheme had  been referred to the Serious Crime Squad department in Gaborone for further investigation.

“The unit is better placed to investigate such cases because they involve fraud,” he said.

Superintendent Serumola further indicated that the number of suspects in the fraud rose from the initial two to seven since May 13.

However, he said all the suspects, who are account holders, have been released pending the outcome of the Serious Crime Squad investigations. Ends