Supermarketings Global CEO arrested for involvement in Cripto-Currency scam

On 31 May 2019 at 04:31

Rwanda Investigation Bureau (RIB) has arrested the CEO of Supermarketings Global Ltd for involvement in Cripto-Currency scam.

According to information shared in a document attached on RIB twitter, Supermarketings Global Ltd activities are different from what two shareholders (Jean Bosco Nsengiyumva and Israel Uwizeyimana) proposed to do as they registered at Rwanda Development Board (RDB).

It is alleged that the two shareholders registered a company for ‘Education Support Activities’ on 18th April 2018.

“RIB has arrested the founder of Supermarketings Global Ltd which is involved Cripto-Currency scam. This business is different from what he proposed to do while registering the company at RDB,” reads RIB tweet.

“RIB would like to advise Rwandans to stand against those who attempt to involve them into such dirty businesses whose sole aim is to fleece them of their money with a promise of high return on investment,” RIB added.

The arrest follows a notice from the National Bank of Rwanda (BNR) released yesterday warning Rwandans against working with unlicensed businesses involved in pyramid schemes that BNR will not safeguard any person involved in it or related activities.

“The National Bank of Rwanda has been alerted of the existence of investment scam activities operating in Rwanda (through locally registered businesses or from abroad through online platforms).These scams take the form of active pyramid schemes, multiple level marketing or cryptocurrency issuance through fake initial coin offering (cryptoscam),” reads BNR statement in part.

Some of these schemes that have come to the attention of BNR include Supermakertings Global Ltd, 3 Friends System Group Ltd , Onecoin or Kwakoo among others.

BNR also advised the public to exercise caution and ensure that their investments are with credible and duly licensed deposit-taking financial institutions, assets managers as well as securities brokers.