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How FNB enabled people to join the SGK pyramid scheme

Bank employees signed up new customers at an SGK recruitment site

Last week, scores of disgruntled members of the SGK pyramid scheme gathered outside the office of SGK Brand Image Store, registered earlier this year by Mampoi Makhetha. This is the same office where, in February, FNB employees helped recruits open bank accounts. Archive photo: Thetso Letsepe.

SGK, an extensive pyramid scheme that conned people into investing money and recruiting new members for guaranteed returns, collapsed over the last few weeks.
Some members who rose through the ranks had opened physical stores in Lesotho to recruit more people.
In at least one store, on at least one day, First National Bank employees were helping recruits open bank accounts so that they could participate in the scheme.
The bank confirmed its staff…

Read More: How FNB enabled people to join the SGK pyramid scheme.

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