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South Africans lose hundreds of millions of rands to Morita Forestry investment scam

Social media influencers helped make the scam possible – and were rewarded handsomely

The Morita Forestry offices in Gauteng. Image: Facebook

Morita Forestry — with an office in Sandton, an address in Colorado, but run from China — has scammed South Africans out of hundreds of millions of rands.
Morita is a pyramid scheme that claimed to pay people out daily if they invested in woodland projects in the US.
Social media influencers and the company’s local director, Puleng Violet Phakisi, encouraged people to invest in the scheme.
Officials from the Department of Forestry, Fisheries and the Environment and the SAPS participated in “trainings” and tree plantings, adding a further veneer of legitimacy to the scheme.
But it ended in tears for thousands this past week when Morita stopped paying out. People ripped…

Read More: South Africans lose hundreds of millions of rands to Morita Forestry investment scam.

Youth Day on June 16 commemorates the 1976 Soweto Uprising, where students protested against
apartheid education policies.

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