Get-rich-quick solar energy scheme looks way too good to be true

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Is Gollong Investment - a UK-based solar energy scheme operating in South Africa - a Ponzi operation? GroundUp investigates. Moneyweb PonziScheme

“Do you think it will last until December?” This is Edward’s* main concern. Two months ago he invested R500 in a new get-rich-quick scheme, Gollong Investment. It was all the money he had, but he was desperate to try something to make some extra cash. After just 40 days, Edward, from Thohoyandou in Limpopo, received a notification that his balance with Gollong was now R800, showing a welcome R300 profit. The investment generated a 60% return, not bad going for just over a month.

This venue, close to the posh financial district of Mayfair, with Buckingham Palace just around the corner, is a popular tourist shopping destination. But when a reporter visited this address he found that no such company operates from the building. The concierge, who has been working at the premises for eight years, confirmed that no such company had been based there over that time. The supposed address of Gollong in London. There’s no evidence that the company exists here.

 

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A great investigation by the team involved! This is so bad because things like this discourage people from investing in other things that could be legitimate.

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