The estate of a woman linked to what is said to be "South Africa's biggest pyramid scheme" has been placed in provisional sequestration by the High Court in Johannesburg.
This follows the Prudential Authority investigating the business practices of Travel Venture International and/or TVI Express and/or related persons commonly known as the "TVI Schemes", which marketed the sale of travel vouchers that allegedly gave recipients substantial discounts for international travel and accommodation.
The Prudential Authority, the regulator established to promote the safety and soundness of individual financial institutions, subsequently applied to provisionally sequestrate the estate of businesswoman Adelaide Musa Duma of Seven Oaks, 2nd Avenue, Johannesburg.
'SA's biggest pyramid scheme'
In handing down judgment, Judge Phanuel Mudau said the TVI Schemes are said to be "SA's biggest pyramid scheme".
This story is from the August 28, 2024 edition of The Citizen.
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This story is from the August 28, 2024 edition of The Citizen.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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