United African Stokvel stops payouts

I invested all my savings over several months,

All monthly return payments from them have stopped, and all correspondence has stopped from Jun 2023. My first large payout was due in May and has not been paid out. So this is a disaster as it appears i have lost all my savings.

I was weary of joining them last year, and invested small amounts at first. When i started investing, their correspondence was rep**** to quickly, and their service was good. , they even called me when they said they would. Monthly payments from the first few investments were paying out on time every month. Near the end of 2022, they started advertising "birthday specials" that were limited in number and for limited time only. The returns were double your money in 12 months. Since everything was going so well i trusted them and invested a larger amount. The next month, they had another "special" for triple your money and i put more money in, as relations and correspondence were top notch. When their birthday specials kept going and getting to triple and quadruple your money in March, i got real worried, but it was too late. Unfortunately, all the good client relations and timely payouts seemed to be planned and directed to reel in users for the their big payday.

Starting in May they started having delays in payments and correspondence was slow to be answered and full of excuses. In late Jun once the show Devi on ETV aired saying they didnt even belong to Stokvel association. All correspondence stopped once and for all, and one cannot reach them, even their website vanished. and so it seems with all our money in their pockets, they are gone. Many users joined support groups, many have filed cases at police, and many have joined groups going through lawyers. It is doubtful if anyone will ever recover their funds and if our police and judicial system is up to prosecution and recovery.

Everything I had saved is lost. Beware! :-(