BoZ recovers over K17 million from Ponzi scheme operator, Destiny Helpers; victims to get refunds from June, 1


The Bank of Zambia (BoZ) has announced its completion of the consolidating process for investors who were swindled by Destiny Helpers International (DHI), announcing a total claim of K17,877,245.00.

This amount is from 4,893 claimants.

Central Bank Assistant Director-Communications, Besnat Mwanza, in a statement on Thursday informed DHI claimants that the payments would commence on June 1, 2023 through mobile money, based on the contact details submitted with claims.

“In line with the court order August 10, 2022, the BoZ shall commence payment of claims from seized funds held by DHI, amounting to K1,100,952.05 and US$19,037.74.

“The distribution shall be done in a proportional manner. Therefore. Each claimant is expected to be paid approximately 8.2 percent of their investment,” Mwanza said.

Read more: Hope rises for people swindled by Destiny Helpers, as Central Bank arranging refunds

Mwanza reminded members of the public that conducting, participating or inviting the public to subscribe to money circulation scheme was convictable offence.

Further, she said, a person that invested in a money circulation scheme stood to lose all or a significant amount of the investment.

The Drug Enforcement Commission (DEC) last year froze the accounts of DHI.

The Commission took the company to court demanding for over K1 million cash and other company properties be forfeited to the state because they are tainted assets.

Among the assets the DEC wants forfeited are accounts holding over US$18,700 and close to K1.1 million along with laptops.

The company was accused of defrauding more than 74,000 Zambians who were lured into a savings group with the promise of receiving grants worth more than 100 percent of membership fees.

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