Editor,

I just saw an add on Muvi TV, about Lwessa Savings and Credit Cooperative Union Ltd. This are conmen…Typical pyramid scheme…Warn people not to use this crooks! I dont know how Muvi TV accepts adverts like this, leading people to the slaughter. Please people dont be cheated by easy profits…You will just lose your money.

A pyramid scheme is a non-sustainablebusiness model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the publi, according to Ewiki.

The full advert targeting Katete residents in Eastern province is reproduced below

• Katete Lwessa Savings and Credit Cooperative Union Ltd

  Share your wealth with others generously today for improved community living standards for all tomorrow.
  Your duty is to activate 3 cards obtained from the cluster centre which should be given to the next Voluntary
  Donors. This is the best empowerment programme that will earn you over 6 Million ZMK in less than two
  weeks or so if the solidarity chain is unbroken down.
  Note that for those who obtained Loans from the co-operative, repayment can be done through solidarity empower –
  ment fund.
  Follow the simple steps listed below for you to join the solidarity empowerment programme with to empower your fellow citizens at once and for all.
  K1,200, 000.00
  1. Deposit K100, 000 in the account of solidarity cluster for administrative expenses and other Logistics
  3. Take slips from the banks to the cluster centre for verification
  6. At the time your name reaches level 2, where all the donors through out the levels activated 2 (three) cards each, your network empowerment donors shall have 12 deposits of paid directly into your account totaled to . See how you have financially been empowered by Voluntary donors.
  K550, 000.00, K6, 600, 000
  2. Deposit K550, 000 in the other member`s bank account listed on page 2.
  5. Distribute the obtained cards to 3 (three) new Donors
  4. Get from the cluster centre printed cards on which your name and other 1 (one)
  member to be empowered appear.
  WELCOME TO A CO-OPERATIVE SOLIDARITY EMPOWERMENT FUND
  JOIN THE CO-OPERATIVE NOW AND DO BUSINESS FOR ERADICATION OF ABJECT POVERTY
  SILVER C PRODUCT CARD
  2 K550, 000 X 9 K4, 950.000
  1 K550, 000 X 3 K1, 650. 000
  K550, 000 X 12 K6, 600. 000

   
• Follow the simple steps listed below for you to join the solidarity empowerment programme with to empower your fellow citizens at once and for all. K280, 000.00
  1. Deposit K40, 000 in the account of solidarity cluster for administrative expenses and other Logistics
  3. Take slips from the banks to the cluster centre for verification
  6. At the time your name reaches level 3, where all the donors through out the levels activated 3 (three) cards each, your network empowerment donors shall have 39 deposits of paid directly into your account totaled to . See how you have financially been empowered by Voluntary
  donors.
  K80, 000.00
  K3, 120, 000
  2. Deposit K80, 000 in the other member`s bank account listed on page 2.
  5. Distribute the obtained cards to 3 (three) new Donors
  4. Get from the cluster centre printed cards on which your name and other 2 (two) members to be empowered appear.
  WELCOME TO A CO-OPERATIVE SOLIDARITY EMPOWERMENT FUND
  JOIN THE CO-OPERATIVE NOW AND DO BUSINESS FOR ERADICATION OF ABJECT POVERTY
  BRONZE C PRODUCT CARD
  3 K80, 000 X 27 K2, 160.000
  1 K80, 000 X 3 K240, 000
  2 K80, 000 X 9 K720, 000
  TOTAL
  EMPOWERMENT CASH
  LEVEL MAXIMUM No. OF CARDS MAXIMUM MONEY INTO YOUR POCKETS K80, 000 X 39 K3, 120.000

  HOW DO I BECOME A MEMBER?
  A. To become a member one must pay a Member ship fee of K150, 000.00 (non refundable)
  B. SHARE HOLDER
  A member of the Co-operative can become a shareholder after buying 10 shares amounting
  to K500, 000.00(1 share is equal to K50,000.00)
  C. BENEFITS OF BEING A MEMBER
  1. You are eligible of being empowered by the co-operetive in whatever business you are doing.
  2. In terms of skills training, the cooperative will pay 50% of the Total fees.
  3. You are entitled to medical and funeral policy as described by the co-operative.
  1. You are eligible to Vote during the Annual General Meeting (AGM).
  2. You are eligible to contest any position in the board during the Annual General Meeting (AGM)
  3. You are entitled to the Dividends of the Cooperative after a physical year of operation.
  4. You are entitled to all the benefits which are found in Section C above

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