Munafa Network Marketing losses pegged at $86.8 million
Since our last update on Munafa Network Marketing in May, Pakistani authorities have arrested an addition thirty-four suspects.
As of May 2018, authorities had arrested five suspects. Further investigation has revealed Munafa Network Marketing was spearheaded by over 271 primary promoters.
Since shutting down the Ponzi cycler, over 11,000 Munafa Network Marketing victims have filed claims for losses of over $138 million USD.
After going through the claims, the National Accountability Bureau pegged actual investor losses at $86.8 million.
Even the reduced amount however is nowhere near the $6.8 million authorities have been able to freeze.
Of the thirty-nine arrested suspects ten have opted for a plea bargain, four of which have thus far been approved.
If further clawbacks aren’t made, as it stands Munafa Network Marketing victims stand to lose around $80 million (likely more owing to unverified claims).