MyZA

News, Directory, Events and Other Stuff

You are here: Home / News / Lesotho citizens lose millions to SGK pyramid scheme

Lesotho citizens lose millions to SGK pyramid scheme

Popular app promised guaranteed returns for watching videos – and then stopped paying out

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, who says she was duped into opening a company and bank account. Photo: Khotsofalang Koloi.

A pyramid scheme disguised as a digital marketing company, has collapsed, causing hundreds, and possibly thousands, of people to lose money.
Participants were recruited to invest money through an app and watch short online ads for guaranteed returns.
The app abruptly stopped paying out returns over the past few weeks and then asked participants to pay administration fees and taxes.
Lesotho’s Financial Intelligence Unit found that at least M8.6-million left the country and was withdrawn overseas or converted into cryptocurrency…

Read More: Lesotho citizens lose millions to SGK pyramid scheme.

The South African National Parks are protected areas where activists advocate for conservation and
biodiversity.

Category: Tag:

If you feel strongly about this article then feel free to send MyZA a ‘Letter to the Editor’ using the submission form below:

Letter to the Editor

This field is for validation purposes and should be left unchanged.
If this is in response to an article please include that article title here or as the lead in for the first paragraph of your Letter below.

Separate tags with commas

Localise your letter by naming the city your words are about. Add relevant words describing your subject. Single comma separated words of no more than 5
Your Name(Required)
Your Name will be linked to the website below.
Your personal, business or social media web site
Choose NO to not set up a user account on MyZA. User Accounts will allow you to submit letters under your own Author Name

3 Latest Letters to the Editor:

  • Older Persons Grants Land Today — No Need to Queue at Dawn

    Dear Editor, Older Persons grants are paid today, 30 October, under SASSA’s revised November payment schedule — with disability grants on Monday 2 November, children’s grants on Tuesday 3 November, and grants under review on Thursday 5 November. Two things every beneficiary should know. First, grant money does not expire on payment day. It stays…

  • November Grants Pay Early – No Need to Queue at Dawn

    Dear Editor, I run SAGrant (sagrant.co.za), a free resource helping South Africans navigate SASSA grants. November grants pay earlier than usual. Older Persons grants are paid on Friday 30 October, Disability grants on 2 November, and Child Support and other grants on 3 November. Grants still under review are paid on 5 November. The money…

  • NSFAS 2027 applications close on 31 October — SASSA households, apply now

    Dear Editor, I run SAGrant (sagrant.co.za), a free resource helping South Africans navigate SASSA grants. NSFAS applications for the 2027 academic year close on Friday 31 October 2026, and no extension is expected. If your household receives a SASSA grant, your child already passes the NSFAS financial eligibility test — but they still have to…

Reader Interactions

Comments

  1. Fun South African Fact: Some of the earliest evidence of human evolution has been unearthed at fossil sites northwest of Johannesburg in the Sterkfontein Caves! Archaeologists have discovered human remains here, some of which are more than 2 million years old! These discoveries have earned the area the title of “the Cradle of Humankind” which is now a UNESCO World Heritage Site.