Uhuru Tribe Ponzi collapses, rebooted as CBI Global
The Uhuru Tribe Ponzi scheme has collapsed, prompting owner Coenraad “Coenie” Botha to reboot the scam as CBI Global.
BehindMLM readers first reported the switch to CBI Global in late October. Due to a typo however, we were only able to confirm the reboot today.
CBI Global’s website is full of generic marketing copy. This is best demonstrated by CBI Global’s website FAQ, which is still populated with template text:
As with Uhuru Tribe, company ownership details are not provided on CBI Global’s website.
On October 31st however, Coenie Botha appeared in a CBI Global livestream to promote the company:
Despite CBI Global’s website domain only being registered in March 2020, the description on the company’s livestream video reads:
A time to reflect, learn and see what the future holds in for CBI on its 3rd year celebration.
This appears to be an attempt to pretend Uhuru Tribe didn’t exist and was CBI Global all along.
As for MLM, CBI Global appears to be more of the same. While no specifics are provided on CBI Global’s website, you can check out our Uhuru Tribe review for an overview.
CBI Global continues to market UHC Ponzi points, which can be converted into BTC, ETH “or the token you want” through CBI-X, an internal exchange.
As with Uhuru Tribe, CBI Global will collapse when withdrawals exceed new investment.
Given Botha can set the internal value of UHC Ponzi points as he sees fit, expect some manipulation before the towel is inevitably thrown in again.
Update 2nd July 2021 – CBI Global has collapsed. Payouts were disabled on or around July 1st.
Another shameful South African embarrassment.
I want to thank Uhuru and CBI for their integrity and support. I have not received anything from marketing CBI, but I have been blessed with good advice and have been able to withdraw profit with no one below me.
I am carefull and don’t just run after the pack.
You’re in a Ponzi scheme stealing money from people who invest after you.
At least own your thievery.
Hi to whom ever wrote the above information please make sure of your facts regarding your statement. But all your statements off above is false and purely you did not do your research.
And second the whole of uhuru (Uhuru did not collaps they just went global due to the rebranding) or cbi is not a ponzi scheme you do not have to get people to get money.
(Ozedit: derail removed)
CBI is simple you invest 30$ AND YOU EARN INTREST JUST ONE QUESTION HOW IS EARNING INTREST A PONZI SCHEME.
Uhuru Tribe could have started scamming people outside of South Africa without changing its name.
Uhuru Tribe collapsed and was rebooted with a different name. There’s no need to make up stories.
You might not personally recruit the people who invest after you, but someone has to.
If recruitment dies off, as it did with Uhuru Tribe in South Africa, the scam collapses.
Right. And when you go to withdraw your backoffice monopoly money, where you think that “interest” money comes from?
That’s what makes CBI Global a Ponzi scheme.
Hallo
I don’t have money in CBI, but I am a Namibian and a lot of friends do have money there.
1. I don’t think the name was change to reboot the company. It was made clear to CBI that the name Uhuru comes from the Mau Mau movement where many white people were killed in Kenya in the 1960’s.
We that live here feel it different on the skin. Nothing wrong with the word Uhuru : freedom. Therefore the president of Kenya wears the name of his soil: Uhuru Kenyata, like Genl De Gaulle was president of France. De Gaulle means Mr Frenschman.
2. As for a ponzi scheme: it is running a little bit too long to be just a ponzi scheme. They trade in quite a few commodities.
Kind Regards
Thinus Coetzee
Well it’s not like Botha was just going to come out and say “Guys, we need to rebrand to lure new suckers in because there’s nothing left”.
Ponzi schemes are a zero-sum equation. They don’t reboot unless they collapse.
A Ponzi scheme is a Ponzi scheme because newly invested funds are used to pay returns. How long a Ponzi scheme prolongs the inevitable collapse is irrelevant.
Feel free to provide evidence of external revenue being used to pay withdrawals. The only acceptable evidence is audited financial reports filed with securities regulators.
You are so stupit, you have no idea what you are talking about!
Uhuru’s name was changed to CBI, it never collapsed. You are probably someone owning a scam operation and are promoting that, or you were too stupit to to have run your scam successfully and now you are jelous of a wonderfull founder like ours who can be successful in running a legit company.
I have to add that the way you wrote your exciuse of a review sounds very unschooled.
Sure it did. Sorry for your loss.
Seeing as you can barely string a legible sentence together, I’m not surprised you had difficulty with the review.
You know what they say, Oz:
Do these people really think that longevity and not “having to recruit” == not-a-Ponzi, or are they just trying to convince their victims? Sigh.
Public announcement: First, Ponzis can run for decades (look up Bernie Madoff), but they inevitably collapse because math. Second, recruitment or lack thereof have nothing to do with it being a Ponzi (again, see Madoff: no recruiting involved). Getting rewarded for recruiting makes it a pyramid scheme; the Ponzi part is separate.
When you see a Ponzi scheme reviewed here, there will be a pyramid (MLM) attached to it because Oz limits this site to MLM companies only. Such schemes are called Ponzi/pyramid hybrids.
Nearly every Ponzi/pyramid has no recruitment requirement; they just want your money. Still a Ponzi scam, though.
Uhuru (now CBI) and Mirror Trading in SA are the same type of scam Ponzi schemes. The owner of Mirror already fled to Brazil with billions and they have been reported to the Police resulting in their liquidation.
It is beyond me that the people “investing” in CBI cannot see the writing on the wall. You WILL lose your money when “oom Coenie” do a runner like he did from Namibia.
Sadly your facts and reboot of UHURU to CBI are incorrect and devoid of any credible information.
Show me 1 UHURU client that lost money when the ‘scam’ collapsed. You will not find any.
I am a client since it started as UHURU and through the whole decision on the name change due to the negative connection to the word UHURU to a certain group of people.
My one investment of a 1000 days made in UHURU is still running uninterrupted in CBI and the same is true for another investment option I have.
So if you want more detail or the truth contact me as there is a couple of facts and truths that is not being taken into account.
Math is math, even in Africa. Whether Ponzi victims acknowledge they’ve been scammed math is math and they will take a loss, regardless.
Naturally. Those who get in early steal all the money, that’s why you’re here defending your Ponzi scheme.
Uhuru Tribe being a Ponzi scheme. No need to create a fictional backstory.
Obvious Ponzi is obvious. There is no rEaL sToRy.
The people that say CBI is a Ponzi scheme are notorious liars.
It is not and it is working together with the FSCA and other government organizations. Shame on you, you must be jealous and scandalous to be such a spreader of NON TRUTH.
REMOVE THIS AWEFUL and UNTRUE STORY from the WEB it is polluting the WEB.
LOL! Where does Botha find these brain-damaged investors?
Hi guys, love this Show.. please continue.. its the best reality entertainment on the net…
Definitely, i’ve cancelled my Cable-tv subscription and internet, I just watch Ponzitards lose their money eventually everytime. It’s the cheapest way to overdose on comedy.
Fun fact: Next to running his own ponzi, Botha also had a regular account in MTI.
We have made enquiries with the Financial Intelligence Agency. CBI (Uhuru) is NOT registered as a financial services provider which makes it an illegal scheme. Period.
Time for the Regulator to act.
What amazes me is that people fall into the Ponzi trap time and again and expect a different result.
Watch this space. There will be lots of tears when “oom Coenie” does a runner.
I have a few friends invested with CBI ..they seem to make money but just like Bernie Maddof it may take awhile. his lasted 10 years so am still skeptical.
So if you claim CBI is a ponzi scheme and ponzi schemes are illegal in SA, why has Coenie not been arrested?
Why don’t you do the ground work and have him arrested before he does his “run”?
I am trying to make up my mind about CBI, but must say your narrative is simply an opinion without facts.
It would be helpful if you provide facts regarding the following questions:
1. Did anybody lose money when Uhuru converted to CBI? If yes, please state who and how much was lost.
2. Provide proof that it was in fact a collapse and not a conversion.
3. Provide evidence that Botha/CBI is not involved with the FSCA and governmental departments.
4. Provide evidence that it is in fact a ponzi/pyramid or ponzi/pyramid hybrid.
5.Provide evidence that there is no trading taking place and that new members funds are used to sustain the scheme. Thank you.
The evidence and facts are there. You’re just ignoring them.
This is typical of those looking to steal money through Ponzi schemes.
No idea. You’d have to ask the SA authorities that.
I have. You’re reading it.
Regulators do use BehindMLM’s research as part of their investigations. Again if you’re asking specifically with respect to SA authorities, you’d have to ask them.
Yup. Because math is math. Can’t pay out more than was invested.
If you want specific dollar amounts, you’ll need access to the CBI Global’s backend.
Ponzi scheme changing name = collapse. New brand and new marketing, for the sole purpose of hoping new gullible investors will lose money.
In case it wasn’t clear, any questions pertaining to SA authorities are best directed at them.
https://behindmlm.com/mlm-reviews/uhuru-tribe-review-uhc-ponzi-points-scheme/
Can’t prove a negative.
An MLM company making claims about trading needs to provide evidence it is doing what it says it is. Ponzi schemes like CBI Global can’t provide this evidence (filings with regulators are legally required), as it doesn’t exist.
None of what I’ve stated above is new information, it’s already presented here. You’ve just ignored it.
E.g. Hmmm, there’s no evidence of CBI Global using trading revenue to pay withdrawals. Even though they are breaking the law by not providing this information to regulators and consumers.
Oh well, there’s no evidence they aren’t doing this either. Herp derp take my money.
Still want to invest? Go for it. Nobody gives a crap, and sorry for your loss.
Interestingly there are payment issues and delays currently in CBI
The excuses are enough to make me skip gym to get my daily workout just laughing
Basically the current excuse is due to the drop in BTC value they are withholding BTC and ETH withdrawals. Before that was delayed/short payments
I don’t understand why you become defensive, or maybe I do. You just don’t have facts to present. (Ozedit: derails removed)
Facts have been made available to you in #22. If you don’t want to address the facts and instead carry on like a silly sausage, do it somewhere else.
Thanks and best of luck with the scamming.
Dear James
Don’t try to come with your pseudo-sincerity. Far better people have tried and failed.
Any intelligent person (which I assume you think you are) would know that the performance gains that CBI are offering is illegal per the Consumer Protection act as a Multiplication scheme. (And no you don’t need to guarantee it, it’s based on the advertised gains which are freely available in their Telegram channel)
You’d also be aware that CBI is not registered to provide a collective investment or any other financial services with the FSCA which is also a criminal act. (They confirm on their website as much – CBI is NOT a registered Financial Service Provider)
This is the exact same excuse Mirror Trading and Finalmente used – and it didn’t end too well for them either.
Then lastly you’d also be aware that the onus is on CBI to prove they operate legitimately by filing returns and audited financials with the CIPC – which they haven’t done for 2 years.
Since they operate illegally, and offer returns that are illegal multiplication scheme rates, they are running a ponzi scam till proven otherwise.
As there is recruitment involved too with no retail products they are operating a pyramid scheme till proven otherwise.
Now feel free to fuck off and enjoy your stolen money like a good ponzitard. Take your pseudo-intellectual retorts to your cult-telegram channels and unpublished youtube clips (sorry forgot comments are disabled there).
Look at Finalmente that went belly up in January 2021. Very much a similar operation.
As Oz mentioned Math is math. Where in the world can you invest that gives you such returns, i.e. doubling your money within 6-8 months.
Me smells something fishy……
BIG WORRIES…….
Im equally worried as my withdrawal are taking way too long to be approved… No response on my emails too!!!
“CBI Global disables payouts, Ponzi collapses again”, it has happen again.
Again again (3rd collapse), or are you referencing CBI Global’s initial collapse?
Since BTC hasn’t gone back to the moon they’re probably “protecting everyone by *still* not paying out”.
again. they stopped all payouts on the 1 July but ppl have been struggling from 1 June to get money.
Fair enough. Will leave it from my end though as we already covered the July 1st collapse.
Looking on with much anticipated expectation…
I wouldn’t be expecting too much. CBI Global has also collapsed.
All of those guys bragging about their interests received, in my area, has quietly faded away.
When this scam started in NAMIBIA and if one with a wider knowledge of some of these scams in South Africa, as well as world wide you could see it miles off that it was a Ponzi scheme and poor Mr. Botha might land up behind bars (for his sake I hope not.)
I’m fine with my Bitcoins(bought 2015) and transferred to Nexo where I receive quite a nice interest daily.
Stop believing in miracles and promises and go for the real macoy. I like your arguments please continue with it very stimulating and a good laugh for the spelling.
HaHaHa sorry for you blindfolded investors……YOU GONNA LOOSE ALL YOUR MONEY……..Await a new name, UHURU-CBI-MOERTOE.
Somebody will soon do a disappearing act. GOOD LUCK ALL YOU FOOLS…..Next time try Kubus vrot milk at Garies.
Is oom Coenie preparing for an exit?
rumble.com/vlvvfp-cbi-wealth-creator-webinar-30aug2021.html
New bank accounts in Namibia – Well that’s a good idea where Crypto is illegal.
Oom Coenie is running an exchange where you pay fiat in his Standard bank account in exchange for uhuru shitcoins.
Don’t forget – Oom Coenie doesn’t hold anyone’s funds. 🙂
Sounds like money laundering and exchange control issues abound.
All I took away from that webinar was confirmation CBI Global is a Ponzi scheme.
Crypto number go up, we can pay you. Crypto number go down, we can’t pay you.
Even if “number go up”, you’re still paying finite crypto out. No new investment = Ponzi collapse.
“We do not have any money of any member” is a straight up lie.
The tax story sounds like an exit-scam in the making.
Sorry guys, we don’t want to give your details to SA so we’re not operating in SA anymore. Sorry for your loss.
The rest of the tax rant is smoke and mirrors. Has nothing to do with CBI collapsing.
Three cheers for Namibian authorities still doing nothing about Botha and his collapsed Ponzi scheme.
I find it interesting speaking to members of CBI who despite all the red flags continue to praise CBI and want to convince you to a) invest or b) keep your money in longer.
Red flags include but not limited to: The bad website, the lack of contact details, lack of ownership details, unexplained way in which money invested is used to buy CBI @R15 odd, but then magically turns into UHC in the pools and at payout is returned at a rate of R14 odd, the week waiting period to get funds from the pool into the wallet, the fact that you have people above you and below you (just like a pyramid), the fact that BTC and ETH hit all time highs, but the interest rate awarded did not increase commensurately although the converse was used to “protect” investors a while back… etc.
The illusion of these +/-3% weekly returns really suck in people and make them put in their life savings / pensions (which is probably feeding the continuous existence of the scheme due to such large lump sum investments).
This operation is not sustainable.
Well, well,well…..this eplains a lot of all the eager friends that want you to invest with CBI.
‼️ATTENTION – IMPORTANT REMINDER‼️
Dear CBI Wealth Creators & Members
This is a reminder that our South African STANDARD BANK ACCOUNT WAS CLOSED ON THE 25TH NOVEMBER 2021.
Hi,
Name just one person who has lost money from CBI? Just one valid and authentic CBI Customer.
Math guarantees the majority of participants in Ponzi schemes lose money.
Whether you can name CBI Global’s victims or not is irrelevant.
It’s coming don’t worry.
No legitimate business freezes payments at random as they feel, you idiots always have the same excuses.
Remember when Cheri said “Show me one unhappy MTI client” – your turn is coming.
Currently CBI only operate with one Namibian bank account. Although they on their website (once logged in) proport to be servicing clients internationally – which is doubtful.
With respect to people losing money – now that CBI has pulled out of SA (a much bigger and stronger economy + tech enabled country) and retreated back into Namibia, we ought to find some SA people who are struggling to get some funds out.
Eg if they bank with Capitec, CBI cannot EFT the funds to such person, but would have to send it via SWIFT which would be more costly and take a bit longer.
The automated pools are currently frozen by CBI Global. The are now trying to say that the freeze is again to avoid losses due to the drop in Bitcoin price…. (They have this as BTC not yet being back at 54k) The are now trying to create an “innovative staking product” whereby you can stake the tokens you have frozen in the pools. This is however still a work in progress.
This is a weak attempt to cover that they do not have the funds to pay out should their investors.
The staking product would be for a period of 54 weeks and they promise a minimum annual percentage return of 36% or weekly 0.69%…
I suspect that the end is very near for CBI.
If you have foolishly invested in this ponzi, we will eventually be able to name **YOU** as a person who lost money in cbi.
I have never thought that the guy I know the longest in my life would make me invest in a scam and of today I can’t withdrawal money out of my CBI.
I asked him to do it for me but he has intentions to keep me in his life even thought he is married I’m not that cullable or stupid.
FSCA drops a turd on CBI,Uhuru and Coenie Botha by name
fsca.co.za/Pages/Media-Releases.aspx ->
FSCA Press Release_FSCA warns the public against Uhuru Tribe, Uhuru-X, Uhuru Cash, CBI X SA (Pty) Ltd (CBI X SA), CBI Global and Mr Coenraad Barend Nolte Botha_26 April 2022.pdf
Direct Doc link has too many spaces,makes link look obscene
FSCA warns the public against Uhuru Tribe, Uhuru-X, Uhuru Cash, CBI X SA (Pty) Ltd (CBI X SA) Registration No. K2019/120406/07, CBI Global and Mr Coenraad Barend Nolte Botha.
fsca.co.za/News%20Documents/FSCA%20Press%20Release_FSCA%20warns%20the%20public%20against%20Uhuru%20Tribe,%20Uhuru-X,%20Uhuru%20Cash,%20CBI%20X%20SA%20(Pty)%20Ltd%20(CBI%20X%20SA),%20CBI%20Global%20and%20Mr%20Coenraad%20Barend%20Nolte%20Botha_26%20April%202022.pdf
So Botha is currently staring down civil regulators in the country he resides (Namibia), and the country he’s primarily defrauded investors in (South Africa).
Why are African authorities so averse to arresting Ponzi scammers?
How’s the CBI members investment going?
Withdrawals happening?
Where’s Marie Kirsten and JP van der Merwe, eager to hear what’s going on in CBI-Ponzi land.
Withdrawals seem to be struggling – they have tried to partner with an online bank “DafriBank” which only has an online presence and is now charging high fees for the withdrawals leading to dissatisfaction and complaints from the CBI community.
The red flags just keep coming whilst the walls are slowly starting to crumble on this scheme.
can anyone provide an update on cbi? my kids have some money in there and we’ve relocated overseas… would be keen to get the funds out asap.
Latest update: You invested into a Ponzi scheme and your money is gone.
Not sure why you think relocating overseas would change anything. Sorry for your loss.
CBI still exists and claims to be operational, although it’s bank accounts have been frozen by the Bank of Namibia due to allegations of conducting a pyramid scheme and illegally receiving deposits from the public.
You could try your luck by contacting CBI or their lawyer, Africa Jantjies, to see if a withdrawal/disinvestment is possible by one way or another – I would not get my hopes up though.
Thanks @Equilateral Triangle for a sensible mature reply. I do understand that the chances may be slim but would still like to try.
@Oz not sure where you get the notion that I meant moving overseas changed anything.. 😐 anyhow, thanks for sending your condolences.
linkedin.com/posts/bank-of-namibia_notice-investigation-into-the-business-activity-7173733042518212608-1FOc