GIYANI – The founder of an alleged get-rich-quick scheme and two of her accomplices have been arrested on charges of fraud and forgery.

Nkhensani Lynnette Shabangu (47) the founder of the scheme, Tsakani Lisbeth Mathonsi (35) and Nkhensani Mabobo (33), all three residents of Giyani were last week arrested by members of the Giyani police. Members of the anti-fraud unit raided the founder's house and confiscated a number of files.

The women's investment scheme - Wake Up Women's Investment and Financial Benefits (WUP) was operating from the Old Mutual building at the Giyani Shopping Complex.

According to Insp Hasani Steven Mabaso, the fraud case against the three accused women emanated from the fact that they are accused of stealing money from the women around the Giyani area, using the WUP Investment Scheme.

It is alleged that investors were promised to get loans of up to eight thousand rand after an upfront investment of four hundred rand. After several efforts by investors to get the promised benefits had allegedly failed, they lodged complaints at the Giyani police station, regarding their money invested in the scheme.

A week before the arrest, Mirror's correspondent went to the WUP office to investigate the allegations brought against her by some of the investors. An employee (who is said to be a daughter of the WUP founder) explained that WUP is an investment and financial benefit scheme for women - designed by women and catered for women. She stated that the waiting period to receive benefits was very short.

She however complained that most clients didn't understand what investment was all about. She stated that the investors thought they were buying money, since after three months of paying premiums, investors qualified for a loan.

She advocated that 'WUP' was not get rich quick scheme, they only taught women how to invest money and after a year they get their money back with the promised interest. This employee added that they have lost many of their clients and they were planning on opening branches throughout the Limpopo Province.

The three accused appeared in the Giyani Regional Court on March 13 and the case was postponed to April 16. All three remain in custody and were denied bail.