Mwanza police arrest 7 for running pyramid scheme

Published by Daily News
On 29 January 2017 saa 01:07
Views : 300
0 0

Police in this lakeside city have arrested seven people for allegedly stealing 100m/- from citizens by convincing them to join a pyramid scheme.

The theft suspects were alleged to convince people to deposit an amount of money and harvest more within a short period of time.

Mwanza Regional Police Commander (RPC) Mr Ahmed Msangi told reporters here yesterday that the suspects included a woman identified as Happy Aloyce( 35) a resident of Ilemela Street, who is also the Director of AQ Computer Limited.

The RPC said different groups of people, including the woman, have recently emerged in Mwanza city swindling people out of huge sums of money.

He said the woman and the people managed to collect 100m/- through the scheme.

“Our investigation revealed that AQ Club is not a registered institution in accordance with the law, but is a business name of the suspect.”

Following the incident, the RPC Msangi has issued an alert to all citizens in Mwanza region, telling them to be careful with such people to avoid losing their money.

“They took money from the citizens by purporting to increase their money and giving them more money than the amount invested.

There is no such kind of investment,” he warned. The RPC Msangi has also warned the public about the activities undertaken by the group of a private company Bega kwa Bega Microfinance Company Limited.

He said people had already complained against the company and explained how the company swindled them of their money.

“Police have already netted directors and some workers of that company and the charges are with the State Attorney for further legal action,” he said.

The RPC added that police in the region continued with the work against such swindlers.

Investigation on the report from Amka Mwanamke institution (AMWA) also said the institution was involved in the illegal business.

“We carry out investigation to know the truth of these reports,” he said and alerted Mwanza Region’s citizens and the surrounding areas to refrain from such kinds of illegal groups.

Instead, he advised, people ought refrain from such illegal business and participate in production activities that generate legitimate incomes for their lives.

He said the desire for a citizen to get quick riches has hurled many citizens to significant losses, resulting in their huge losses of money stolen by such crafty groups.

“Citizens should be aware that this is a criminals’ trap of persuading citizens to join these groups so that they can steal their money,” he said.