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A bank account belonging to an alleged Ponzi scheme, which sold virtual pigs, has been frozen by the Asset Forfeiture Unit (AFU) as part of a R4.3 million preservation order.
On Monday, the Gauteng High Court in Pretoria granted the AFU an order to freeze a bank account belonging to Piggy Farm Trading (Pty) Ltd. According to National Prosecuting Authority spokesperson Lumka Mahanjana, Piggy Farm Trading allows individuals to buy up to 50 "virtual pigs" at R2 750 per pig in a "metaverse piggy farm".
"As it is a virtual pig, the investment is risk-free because the pig gets substituted with another pig in the event that it dies. In return for investment, the investor will be paid R550 per month for 12 months, and after 12 months the pig will be returned to Piggy Farm," said Mahanjana.
