Stop a scammer

[Xuxa]

BGM investments closed leving investors hungry for coins how can we help get those behind arrested this happened in S. Africa

[JeromeTash]

Could you please give more context to this whole BGM Investment thing? What exactly happened, and how did the people get scammed?
How much was scammed?

Without full context, it's hard to advise on the next course of action

If it was a wide scale fraud, then it's best to involve local authorities to have them arrested. I am sure there can be some details about the so-called company that you can use to track them down.

[Zwei]

how can we help get those behind arrested this happened in S. Africa

posting about this here is useless, everyone who got scammed should get legal counsel and pursue legal action.

Could you please give more context to this whole BGM Investment thing? What exactly happened, and how did the people get scammed?

just from the name "BGM Investment" and OP saying "investors", i can guess it was some kind of a ponzi or an MLM scheme.

I am sure there can be some details about the so-called company that you can use to track them down.

apparently it was some platform where you could watch videos to earn money, but you had to pay to get access to those "jobs" where you could make a whopping 1,557% annual return.



https://www.politicalanalysis.co.za/brilliant-global-media-bgm-is-not-what-it-claims-its-just-another-video-watching-scam-in-south-africa/

[Xuxa]

They were asking people to invest in their app so when you open account you a told to deposit setten amount after a month you withdraw it with profits after withdrawal the amount you started with keeps growing making the trader get money every month end thenany people had joined depositing money and their app wake up freezing one morning all whatsapp charts cleared and not working  l was about to join wn my friend who was investing in it  told me it was closed

[albon]

They were asking people to invest in their app so when you open account you a told to deposit setten amount after a month you withdraw it with profits after withdrawal the amount you started with keeps growing making the trader get money every month end thenany people had joined depositing money and their app wake up freezing one morning all whatsapp charts cleared and not working  l was about to join wn my friend who was investing in it  told me it was closed

This is indeed a common scam and nothing new. It's good that you didn't join them. They contact people to lure them with profits and to push them to invest in their app by depositing funds and subscribing to one of their so-called investment plans with tempting returns..

Indeed, in the end, you will not be able to withdraw your money, as they will force you to deposit more money and then impose unreasonable requirements and conditions that you cannot fulfill, and finally seize your funds and freeze your account.. They will definitely attempt to disappear afterward, and before doing so , they will remove any traces of their scam to avoid being tracked.. It’s also worth noting that they will likely return again under a different name.

[tabas]

They were asking people to invest in their app so when you open account you a told to deposit setten amount after a month you withdraw it with profits after withdrawal the amount you started with keeps growing making the trader get money every month end thenany people had joined depositing money and their app wake up freezing one morning all whatsapp charts cleared and not working  l was about to join wn my friend who was investing in it  told me it was closed

This is a typical ponzi scheme. You have to leave your coins or money on their app for a month and they will allow you to do it later? that's because that lock in period is what they're going to use for each of the victim have no ways of withdrawing the money and even before you are allowed to withdraw and end up with that withdrawal period, they'll collapse. People need to remember that money doesn't grow on trees and the legitimate ones are the slowly but surely. Your friend has a concern to you and I think victims of that app or company can come altogether and report it to the police if that's a local scam.

[JeromeTash]

They were asking people to invest in their app so when you open account you a told to deposit setten amount after a month you withdraw it with profits after withdrawal the amount you started with keeps growing making the trader get money every month end thenany people had joined depositing money and their app wake up freezing one morning all whatsapp charts cleared and not working  l was about to join wn my friend who was investing in it  told me it was closed

Sorry for your friend, Luckily you survived getting scammed. What you described there shows that it was a Ponzi scheme and what they offered looked too good to be true. Money just can't come out of nowhere, or it can't keep multiplying overnight without a proper business model.
I hope you learned from the experience and will avoid Ponzi schemes in the future, too.