South Africans lose millions through Morita scheme

More than 300-thousand South Africans are believed to have fallen victim to the Morita Forestry investment scam, losing millions of rands. GroundUp reports that the alleged pyramid scheme promised investors daily returns from woodland projects in the United States. The scheme widely promoted on social media, allegedly operated by using money from newer investors to pay earlier participants. More than 385-thousand accounts were reportedly registered, while cryptocurrency wallets linked to the scheme received hundreds of millions of rands. Sakina Kamwendo spoke to Ground Up writer and investigative journalist Joel Cedras joins us to elaborate further about the scam