Loan shark under siege

CLIENTS of Perfect Shot Investment, a company that was allegedly running a pyramid scheme, but collapsed last month, have resorted to attaching the company’s property in an effort to recover their principals. The company has been failing to pay clients since its collapse.

Report by Blondie Ndebele.

Some of the property will be sold under public auction today by the Messenger of Court at the CIPF Complex.

Over 100 clients were left stranded after the investment scheme collapsed with huge sums of their money.

The company has failed to honour its promises to pay back clients and they have kept postponing the dates for the payments, triggering angry investors into raiding the company’s offices on several occasions.

Today, the Messenger of Court will be auctioning property attached by one creditor, Siphiwe Dube, who was one of the many people that lost their cash in the scheme. The property to be auctioned includes TVs, computers, printers, fridge, water dispensers and other movable property.

The group chairman Kelvin Mazhandu yet again issued a notice that they were still unable to pay their clients because of cashflow problems.

“Perfect Shot Investment would like to apologise to its valued clients on the failure to start paying their principals on June 10 as initially discussed in our meeting held on June 3,” he said.

“The entity is facing numerous hiccups that have derailed its payment plan framework. The payments will commence as soon as all payment modalities have been finalised.”

The Messenger of Court declined to reveal how much Dube sought to recover, saying this was confidential.

Dube’s action is likely to trigger several such auctions.

Our Partners:   NewsDay   The Independent   TheStandard  MyClassifieds