D9 Clube banned in Rwanda for being an “illegal pyramid scheme”
Initially targeted at South America and Europe, the D9 Clube Ponzi scheme has since spread to west Africa.
In a move to stem propagation of the scam across Rwanda, the National Bank today banned D9 Club.
According to the National Bank of Rwanda, D9 Clube is
believed to have its origin in South America and has recruited Kenyans.
The D9 Club extending operations in Kenya, Uganda, Tanzania and Zambia is an illegal pyramid scheme in Rwanda thus regarded as scam.
The Bank initially took action on June 8, by direction 17 banks operating within Rwanda to “stop any money transfers to he scheme”.
An investigation has revealed the top Rwandan D9 Clube investor purportedly launders stolen investor funds through Uganda.
Not surprisingly, the Bank conclusion echoes BehindMLM’s own August, 2016, D9 Clube review.
D9 Club is believed to be an investment scam camouflaged as a legitimate business opportunity in the form of multi-level marketing programme being used by fraudsters to pitch to unsuspecting investors.
Last month Public Prosecutors in Paraguay announced they were also investigating D9 Clube.
Following claims of a business relationship, the well-known betting platform Bet Fair also distanced itself from the company.