AFTER being promised weekly profits from their savings, 271 members of an investment scheme have allegedly been left on ‘seen’ by administrators of two companies by disappearing with their savings worth over K1million.
Luke Mwanza and 270 other plaintiffs have now rushed to the Lusaka High Court for intervention by directing Sanyuka Investment Limited and Tusanyuka Investment and property agents limited to give them back their money.
The Lusaka based plaintiffs also want an order for payment of the profits due to all of them in accordance with their respective investments plus damages for breach of the oral contracts made between them and the defendants.
They also want an order that the veil of incorporation for the first and second defendants be lifted and that the shareholders of the companies personally pay all the money due to them.
The plaintiff’s state that they invested in the defendant’s company which is incorporated and was conducting business of investment schemes and that sometime in 2022, the defendants were inviting members of the general public to invest into their companies.
They submit that the two companies stated in their advert that upon investing, members of the general public would be entitled to receive weekly profits from their investment and also receive a refund of initial sum of money invested in the company.
“Between 2022 and June 2023, the plaintiffs made oral contracts with the defendants and invested various amounts totalling K1, 607, 500.00.
“However, in breach of the various oral agreements entered with the plaintiffs, the defendants failed to pay each of them the profits as a return on their investment and in addition, the defendant also failed to refund the plaintiffs their respective sum of money which they invested in the companies,” the plaintiffs submit.
Despite making several follow ups to demand payments of their money invested in the scheme, plus the promised profits, the defendants failed to pay them the money due to them.
The worst part is that the plaintiffs later discovered that the defendants shut down their operations and closed down their offices situated at Two Sister shopping Complex, nationalist road.
(Mwebantu, Thursday, 28th September, 2023)