Mpumalanga Police and the Hawks are investigating various WhatsApp stokvels that have caused anger and brought tears to many participants, who allege they have been swindled by ruthless stokvel administrators.
Breyten Police had their hands full when an angry group of women packed the police station, demanding their money back from the administrators that had taken refuge at the police station after being threatened.
Participants allege that the administrators have been conning them by operating the stokvel with aliases.
Participants from Ermelo that spoke to the newspaper on condition of anonymity said one of the administrators told them that another administrator was using different names, sim cards and banking details to divert money to herself.
“That woman is evil, she uses three different sim cards, banking details and different names to make sure that she receives most of the money,” said one angry woman.
The newspaper visited one of the administrators who has been playing it for four months. She has already been threatened with violence and her house was attacked in attempts to get explanations about the stokvel.
She explained that this is a WhatsApp-based stokvel that began in Barberton. A member pays a R500 joining fee with a promise to receive R5 000 in four weeks, provided the member recruits another five people. Every recruit must recruit others to keep the stockvel going.
“Once you have been allocated a member you have to pay (“grandparent”), payment must be made within 24 hours and proof of payment is sent to the grandparent and to the group. The grandparent must also confirm receipt of payment within 48 hours. The person making the payment is referred to as a down-liner.”
After receipt of the R5 000 payment, the member must reinvest R500 and start the whole process again.
“All our recruits are sent the rules before they start pledging. The rules are clear that you enter the stokvel at your own risk and there are no refunds,” said the administrator.
The rules further explain that the stokvel is not affiliated to any bank or investment company, administrators are not liable for any loss and money is exchanged among the members.
When asked about the allegations of others using more than one name, she said they became aware that some members brought in friends and family members who did not recruit others.
“Once the initial recruit is paid, he or she doesn’t reinvest and when we call all the numbers they give, some calls are not answered and people who do answer often know nothing about the stokvel, which means we get left with ghost participants.”
She estimates that the stokvel has more than 2 800 members spread across the province.
The administrator said it was unfortunate that this had turned out ugly with people using underhand tactics, whereas they really wanted to assist one another financially.
“It puzzles me that people want their money from us when they know we don’t keep it, because they themselves exchange money via accounts.”
After the initial attack on her and her house, she now lives in fear that others will also take advantage and attack her.
In Emjindini, Barberton Police had to use rubber bullets to disperse a crowd that had surrounded an administrator’s house, demanding their money back and threatening to burn down the house.
