‘Til the wheels come off
𝗧𝗵𝗶𝘀 𝘀𝘁𝗼𝗿𝘆 𝗼𝗿𝗶𝗴𝗶𝗻𝗮𝗹𝗹𝘆 𝗮𝗶𝗿𝗲𝗱 𝗼𝗻 𝟮 𝗝𝘂𝗹𝘆 𝟮𝟬𝟮𝟯.
Earlier this month, Carte Blanche investigated a multi-million rand Ponzi scheme that involved purchasing luxury vehicles without ever paying a loan instalment. The wheels eventually came off in spectacular fashion. Then, days after our broadcast, viewers sent us stories of how they had fallen victim to a more complex but similar scam. We investigate an intricate “ride to own” scheme which had some motorists owning multiple vehicles that they weren’t paying for and never took possession of. Now, the banks are owed more than R500 million and numerous vehicles have gone missing – stripped and resold for parts by a shady dealership. The Hawks are investigating but for the so-called victims, it’s time to pay up.
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