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HIV/AIDS

12 May 2010

Cops bust HIV/Aids pyramid scheme

Authorities have busted a pyramid investment scheme involving a company offering HIV/Aids treatments.

South African authorities bust a pyramid investment scheme involving a company offering HIV/Aids treatments.

Finance Minister Pravin Gordhan announced the police action in a budget vote speech to parliament, and Revenue Service spokesman Adrian Lackay said executives at an unnamed firm allegedly misappropriated 100 million rand ($13.5 million) invested in an "immune booster pack for HIV/Aids sufferers".

SA has the world's largest Aids treatment programme, and there are plans to double that with a $960 million scheme to increase access to anti-Aids drugs to 80% of sufferers by 2013.
 

Police and tax inspectors raided premises in Durban and Pretoria and arrests were expected to be made, Lackay said, adding that the company and individuals would not be identified until they were formally charged.

Sars raided offices
 

 

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