Potential investors who bought into a fake scheme, believing that they were buying shares in animals on American farms, now have an opportunity to be reimbursed.
The SAPS Commercial Crime Investigation Unit in East London is thus calling on victims of the so-called ANT-RANCH scam to come forward.
Police spokesperson Colonel Priscilla Naidu said police obtained a preservation order on one of the six bank accounts used to dupe potential investors.
According to police, people joined the investment known as ANT-RANCH, operated by the Ant Ranch Breeding Management Company in 2023.
Investors were duped into believing that they were buying shares in animals like geese, snakes, donkeys and pigs on American farms
They never received the animals, as this was just a way of labeling the investment.
Naidu said the prices of the animals differed according to their sizes, and the rancher would receive dividends daily, depending on the type and price of the animal one has purchased.
Ranchers deposited money to purchase the animals in six different bank accounts.
"There was no direct communication with the people who were liaising with the 'clients’ during their period of investment.
"Communication was only done through WhatsApp messages.
"A substantial amount of money was being invested as the ranchers saw a return on their investment deposited into their accounts daily," said Naidu.
As investments thrived, most people did not withdraw their increases, while others invested even more money.
The scheme was exposed on 10 October 2023 when investors logged in to the ANT-RANCH system, to find that it had been blocked.
The WhatsApp numbers that they used also failed to exist.
Naidu confirmed that as the investigation unfolded, the investigating and the Asset Forfeiture Unit successfully managed to obtain a Preservation Order to freeze one of the accounts.
"A case of Fraud was opened and to date, there are seven complainants (5 are from East London and two from Gqeberha).
"Police believe that there could be more victims of this scam."
Those who fell victim to the fraud have until 21 February to come forward, to be reimbursed.
If they do not come forward, the money will be forfeited to the state.
Detective Sergeant Ayanda Ntobongwana from the East London Commercial Crime Investigation Unit can be contacted on (043) 708 7178, 043-708 7174 or via Whatsapp on 072 393 9353.
