Scoin Scam- Public beware
THE SCOIN SCAM·WEDNESDAY, SEPTEMBER 6, 2017
We are initiating a well co -ordinated class action against the Scoin Store Group, we have set up a Facebook page, please access the page on the attached link: https://web.facebook.com/thescoinskam/.
We are asking you to do to do the following 3 things:
• Share your story on our page
• Like and Share the page -
• Message us with your contact details for the class action
I write this as an angry South African, we are surrounded by stories of corrupt business practices in both the public and private sector, on a daily basis and my experience with investment coins at Scoin is the straw that has broken the proverbial camel’s back. I’m tired of remaining silent and accepting dishonest practices. I believe all it takes is one person to stand up, and I am that one person who will take this matter further
I have lived my life conducting both my professional and personal life in the most respectful ethical way possible, I always chose to deal with companies that share those values. In 2012 Scoin ran a media campaign, at the back of this media campaign, I scheduled a meeting with the Scoin Office in Sandton. I felt I had done my homework, to asses that this was a reputable company on paper they are listed as 25 shops country wide operated by the gold coin exchange. The actual offices located in most major Malls, is conservative, high end and elicits a feeling that this is trustworthy a combination between a high-end jewellery store and bank. Gosh was I misled!
I did not go in seeking advice, I went in with a set amount of money that I wanted to invest in Kruger Rands. What in hindsight, I can only describe this as the most persuasive “hard” Sales Pitch, by Mr Sham, the Scion representative, he dissuaded me from purchasing it all in Kruger Rands and made it the logical choice to diversify and buy risk free Collector Coins with a projected year-on-year growth of between 10 and 30 percent and a guaranteed buy-back at the projected growth rate. There were no suspensive conditions around buy back time frames. So I invested in 11 of these amazing risk free, guaranteed Growth, can cash in at any time coins. In addition to the my original Kruger Rands
Fast forward to this year, 5 years later, where I exercised my guaranteed buy back, and this was declined. I was advised that the conditions had changed. Effectively my risk free investment is worthless –the MD, Mr. Alan Demby, is riding around in a Rolls Royce with money he obtained from me and other unsuspecting people based on unethical dishonest sales practices.
As I said before all it takes is one person to say enough! No to dishonesty, No to Unethical Practices, no to self-serving dishonest advice.
Please join me in my call to action in righting a wrong and putting an end to dishonest and unethical business practices. To forcing Scoin to deliver what was promised!