Uncategorized 13.3.2015 11:30 am

Defencex ordered to repay victims

Image courtesy stock.xchnge (KillR-B)

Image courtesy stock.xchnge (KillR-B)

Investors in Defencex – the Ponzi scheme masterminded by Chris Walker – can now register claims to money they invested and lost in the scheme via a website.

Meanwhile, Walker continues to promise high investment returns from a business selling “sacred liquid”. Investors – who purchased “points” paying 2%-a-day returns via a Defencex-linked website trading as Net Income Solutions – are now able to register their claims on the Repayment Administration Web Application (RAWA) website .

To get the word out, a national advertising campaign will run across print, online and broadcast media and is set to launch on March 15. SMSes will also be sent to the cellphone numbers listed in Defencex’s records. The SMS campaign kicks off on March 12 in batches of 10 000 a day.

According to an order granted in the Western Cape High Court this week, investors have three months from the date of finalisation of the court order (April 29) to register their claims on the RAWA website.

Among the 10 names Defencex investors may have encountered – all amounting to the same scheme – are EFT4me, Cycle4Dollars, Net Income Solutions, Online Mega Profits Academy and First Wealth is Health.

Having amassed over R800 million from 171 000 investors between April 2012 and February 2013, Defencex could account for approximately R352 million when its accounts were frozen by the South Africa Reserve Bank (SARB) on February 28 2013.

It is thus highly unlikely investors will receive their entire deposit back. According to the order, the minimum dividend proposed to qualifying investors is 65% of the amount deposited.

The final step to reclaiming an investment is to provide proof of the original deposit via a deposit slip or EFT record. An e-wallet statement printed off the Defencex website is not acceptable as proof of investment, according to the court order.

According to SARB-appointed repayment administrators, PwC, many of the investors were based in townships and made direct cash deposits into the Defencex bank account.

Walker’s Defencex website (www.defencex.com) is now advertising a “sacred liquid”: “Mighty Soul is a sacred anointing liquid that has been consciously and carefully created to serve as a vehicle for the reception of universal conscious energy and Divine Blessing.”

Along with promises “to become, to do, and to have all that you truly desire in life” when drinking “this holy libation”, Mighty Soul offers opportunities to become a distributor.

Distributors earn money selling the product and via commission based on the sales of people who they introduce to the Mighty Soul business opportunity.

 

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