The Department of Forestry, Fisheries and the Environment (DFFE) has distanced itself from Morita Forestry.
In a statement on Monday, the Department said it condemns “the fraudulent investment scam that has tricked South Africans out of millions of Rands.”
Although the number of people scammed, is unclear, some media reports indicate that Morita Forestry had over 385,000 registered accounts across the country.
The Department also said Morita Forestry donated 300 trees at a public tree-planting event in Mohlakeng.
Scammers then used photos from that event to make it look like Government was backing them.
“DFFE confirms they NEVER partnered with them or endorsed their business” said the Department.
The DFFE took the opportunity to let the public know how the process of public-private partnerships.
“Government departments will NEVER invite you to invest in daily-payout crypto or forestry schemes. Always verify any investment opportunity with the Financial Sector Conduct Authority (FSCA) before paying money.”
Picture: Supplied