K50 MILLION PONZI SCHEMERS FACE JAILBy OLIVER SAMBOKOSEVEN directors of two Ponzi schemes, Ono Savings Initiative Limited and COMSAVE Credit Union will now be prosecuted for allegedly failing to honor a plea agreement involving refund of over K50 million owed to 10,000 investors.In 2020, DEC through its Anti-Money Laundering Investigations Unit arrested and charged seven directors who include four from Ono Initiative Limited and three from COMSAVE Credit Union for money laundering related offences involving K69.4 million.Those to be prosecuted are Directors of ONO Savings, Isaac Mvula 40, Ackim Mugala 39, Khuna Ncheema 65 and Chuunya Chilala, female aged 34. Others are Given Muleka Given, male aged 29, Onester Sondashi, female aged 33 and Collins Chilufya, male aged 42 who are directors of COMSAVE Credit Union.And DEC public relations officer Mathias Kamanga said in a statement to the Daily Nation that following successful investigations into the operations of Ono Savings and Credit Association and Comsave […]
K50 MILLION PONZI SCHEMERS FACE JAIL
