May 14, 2010
South African Inspectors Bust HIV Treatment Pyramid Scheme
South African Revenue Service (SARS) inspectors busted an unnamed investment firm in an HIV/AIDS treatment pyramid scheme, Reuters reports. This scheme continuously recruited new clients to fund and sustain itself financially.
According to the article, the firm allegedly misappropriated 100 million rand ($13.5 million) invested in an “immune booster pack” for people with HIV/AIDS.
Arrests are expected, but the company and individuals involved will not be identified until formally charged, said SARS spokesperson Adrian Lackey.
South Africa has the highest HIV prevalence of the world, with 5.7 million people living with HIV and 1,000 people dying of AIDS-related illnesses every day.
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