RIB warns general public against Pyramid businesses

By Elina Jonas Ruzindaza
On 26 September 2020 at 02:14

Rwanda Investigation Bureau (RIB) has warned dealers in money scheming commonly known as ‘pyramid’, saying the practice is illegal and those participating in inviting others to join shall be charged with obtaining money by false pretence and fraud.

Pyramid money trade is well-known in Rwanda, where its companies require people to buy certain shares, promising a profit that can increase depending on the number of people they bring in and buy shares.

This practice is what keeps those who are involved in these activities always concerned about bringing others to increase their profits.

The activities are advertised on social media, and sometimes even organize meetings to invite those who want to get involved in the business.

RIB spokesperson Dr. Murangira Thierry told Radio 1 that those who attract and encourage others to enter the business should stop because it is a crime and punishable by Rwandan law.

Dr. Murangira further urged the public to be vigilant before engaging in activities that assure them profits they didn’t work for.

Dr. Murangira urged the public to be vigilant before engaging in activities that assure them profits they didn’t work for

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