Dial A Mula and related firms have acquired a securities fraud warning from South Africa’s Monetary Sector Conduct Authority (FSCA).
Firms cited within the FSCA’s October 18th warning are:
- Umvuzo Way of life Creators;
- AW Fund Administration Pty Ltd;
- Dial A Mula Directors Pty Ltd;
- Hunters Wealth Empowerment Pty Ltd; and
- Umvuzo Administration Group Ptd Ltd
BehindMLM got here throughout Dial A Mula and Umvuzo in 2022, as a part of Hanli Lombard’s collection of “Mula” branded Ponzi schemes.
In November 2022 we famous Lombard (proper) was as much as her fifth “Mula” Ponzi reboot.
The FSCA’s warning cites Juan Albert Mayer. It’s unclear whether or not Lombard remains to be concerned.
A June 2024 advertising promo suggests Lombard has moved onto LiveGood, a suspected MLM pyramid scheme.
As per the FSCA’s Dial A Mula fraud warning;
The Monetary Sector Conduct Authority (FSCA) warns the general public towards doing any monetary providers associated enterprise with Juan Albert Mayer (Mayer); Umvuzo Way of life Creators; AW Fund Administration (Pty) Ltd; Dial A Mula Directors; Hunters Wealth Empowerment; and Umvuzo Administration Group.
It has come to the eye of the FSCA that Mayer and related entities are soliciting investments from members of the general public, promising excessive returns, and claiming to be related to Negroni Group (Pty) Ltd, FSP quantity 46975.
Negroni Group (Pty) Ltd has confirmed that they aren’t in any method related to Mayer and people entities linked to him.
It’s the FSCA’s view that Mr Mayer and people entities are conducting unregistered monetary providers.
Providing unregistered monetary providers in South Africa constitutes securities fraud.
Curiously, a Google seek for “Juan Albert Mayer” returns three outcomes, all of which pertain to the FSCA’s fraud warning. It’s unclear whether or not this particular person exists.
Replace twentieth October 2024 – Juan Albert Mayer goes by Juan Meyer and really a lot exists.
As per the above LinkedIn profile, Mayer cites himself as a the Group Chairman of UmVuzo Holdings. Mayer can also be CEO of one thing referred to as Aurum Wealth Creators, and a former promoter Karatbars Worldwide.
Karatbars Worldwide was a gold-themed MLM pyramid scheme turned crypto Ponzi. It collapsed in July 2019 however apparently Meyer didn’t get the memo.