Matambo defends Ponzi scheme

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Implications of a fiduciary and due diligence nature are inevitably raised when a minister's spouse dabbles in a Ponzi scheme, recruits countless numbers of Batswana to join them and then insists that there is nothing wrong with any of it, writes LAWRENCE SERETSE

Meriam Matambo, the wife of Botswana's Minister Finance and Development Planning, Kenneth Matambo, says she is happy with the returns she got from the P100,000 she invested in Eurex Trade ponzi scheme.However, Eurex Trade is a very risky money laundering pyramid scheme that is known to have scammed and swindled its many investors out of millions of shinplasters before evaporating into thin air overnight.Not so, says Mrs Matambo. Inspite of the massive negativity that surrounds the Eurex, as a member and listed contact for the scheme, she enjoyed every bit of it while it lasted.

She says she joined in March last year and put up a stake of P100,000 which she recovered fast because, according to her estimation, it was not a lot of money (that I invested). "I lost nothing to Eurex," she says. "I invested as little as P100,000 and it took me (just) a while to recover my money back." According to Matambo, another long serving member, (name known to Mmegi), who is also listed on the contacts list recruited her to the scheme.

Editor's Comment
Women unite for progress

It underscores the indispensable role women play in our society, particularly in building strong households and nurturing families. The recognition of women as the bedrock of our communities is not just a sentiment; it's a call to action for all women to stand together and support each other in their endeavours.The society's aim to instil essential principles and knowledge for national development is crucial. By providing a platform for...

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