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Hawks warn of dodgy Bitcoin investment schemes

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Lloyd Ramovha of the Hawks says If anything looks too good to be true, it usually is.

"The repo rate stands at about 10.25 basis points. So if any investment scheme claims to surpass that, then that is a red flag."Once a working-class resident, Sphelele"Sgumza" Mbatha's status was quickly elevated to that of a wealthy financial guru, revered by his neighbours.That trust ran out earlier this month when Bitcoin Wallets collapsed - and Mbatha has not been seen since.

Now, those who once queued up outside his office for days hoping to double their money can be found at the local police station.Police are warning the public to be careful.The Lion King roars into theatres today. Will you be taking your family to watch it?

 

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