Telex-free, a multilevel internet marketing scheme was banished by the government of Rwanda after investigations linked it to alleged money laundering within the country. This follows a Brazilian court of Acre State which also previously suspended the activities of the same company, for allegedly running fraudulent investment operations in that country. PLI Telex free is also under investigations in some states in the United States as well.
“Basing on the investigation report carried out by the National Bank of Rwanda in conjunction with the Ministry of Trade Industry of February 19, 2014 on the operations of P.L.I Telexfree Rwanda Ltd, which concluded that PLI Telexfree Rwanda Ltd activities are similar to that of a pyramid scheme which can easily be a channel to jeopardize the financial sector and facilitate Money Laundering,”
The owners of the internet marketing scheme in Rwanda have released no statement yet.
All eyes on Uganda
The company reportedly reaped an average $100 every week for posting daily adverts on the internet. The company has been operating in Rwanda since last year just like in Uganda. Meanwhile, the firm is set to come under scrutiny here in Uganda. The Uganda’s High Commissioner to Rwanda asked his home country has asked the Ugandan government to look into this issue and highly consider the same measures taken by Rwanda and he further advises Ugandans to boycott Telexfree activities.“Uganda needs to look into this to protect the public,” Kabonero tweeted as shown below, soon after Rwanda issued the directive.
Rwanda bans telexfree operations.Uganda needs to look into this to protect the public. pic.twitter.com/IqF0gGnZsa
— Richard Kabonero (@richardkabonero) March 17, 2014
Are you a telex free member? Do you think these are fraudulent schemes and there is need for the Ugandan government to ban it?