Forum Views ()
Forum Replies ()
Read more with google mobile :
South African police bust HIV/AIDS pyramid scheme
|
Edition:
U.S.
Article
Comments (0)
Save
Email
Print
Reprints
Most Popular
Most Shared
Memo to boss: 11-hour days are bad for the heart
3:15pm EDT
Obesity task force urges action
3:12pm EDT
Nuts' anti-cholesterol effects stronger for some
10 May 2010
Gold vaults 2.5 pct to record on safe-haven play
4:26pm EDT
Germany backs euro package as market rally fades
| Video
4:31pm EDT
Playboy raises the bar with 3-D centerfold
11:58am EDT
"Sin within the Church" threat to Catholicism: Pope Benedict
12:33pm EDT
BP tries a new Gulf spill fix, as slick spreads
| Video
10 May 2010
WRAPUP 5-Executives shift blame as oil gushes into US Gulf
4:05pm EDT
UPDATE 1-Russia says eyes atomic energy cooperation with Syria
6:04am EDT
Memo to boss: 11-hour days are bad for the heart
3:15pm EDT
Nuts' anti-cholesterol effects stronger for some
10 May 2010
Food-stamp tally nears 40 million, sets record
07 May 2010
Playboy raises the bar with 3-D centerfold
11:58am EDT
Gold vaults 2.5 pct to record on safe-haven play
4:26pm EDT
"Sin within the Church" threat to Catholicism: Pope Benedict
12:33pm EDT
Obesity task force urges action
3:12pm EDT
A tale of adultery and green tractors
10 May 2010
Google's Android takes No 2 spot from iPhone
10 May 2010
Stronger evidence pollution damages heart: report
3:15pm EDT
South African police bust HIV/AIDS pyramid scheme
JOHANNESBURG
Tue May 11, 2010 2:02pm EDT
Related News
WHO sees good progress on U.N. health goals for poor
7:16am EDT
S.Africa's Gordhan: economy needs restructuring
3:36am EDT
WHO sees good progress on UN health goals for poor
Mon, May 10 2010
S.Africa taps patent pool for neglected diseases
Wed, May 5 2010
S.Africa taps patent pool for neglected diseases
Wed, May 5 2010
JOHANNESBURG (Reuters) - South African authorities busted a pyramid investment scheme Tuesday involving a company offering HIV/AIDS treatments in a country with one of the world's highest infection rates.
World
Finance Minister Pravin Gordhan announced the police action in a budget vote speech to parliament, and Revenue Service spokesman Adrian Lackay said executives at an unnamed firm allegedly misappropriated 100 million rand ($13.5 million) invested in an "immune booster pack for HIV/AIDS sufferers."
South Africa has the world's largest Acquired Immunodeficiency Syndrome (AIDS) treatment program, and plans to double that with a $960 million scheme to increase access to AIDS-suppressing anti-retroviral drugs to 80 percent of sufferers by 2013.
Authorities did not disclose the name of the company but said it was listed on Johannesburg's alternative investment market.
In a pyramid scheme, new clients are recruited to pay money and to recruit ever more clients to sustain itself.
Police and tax inspectors raided premises in Durban and Pretoria and arrests were expected to be made, Lackay said, adding that the company and individuals would not be identified until they were formally charged.
"We will not disclose the name of the company until formal charges are brought before a court of law," said Lackay.
Imuniti, whose website describes itself as a pharmaceutical and natural medicines maker, said South African Revenue Service (SARS) inspectors had searched its Durban offices Tuesday morning but denied police had been present.
"The subject of the investigation is not Imuniti or any of its subsidiaries or any of its directors," acting Chief Executive Neil Lamble told Reuters. "It's certain other parties that the investigation is in respect of and we are cooperating with SARS fully in their investigation."
"A team from SARS did arrive at the offices this morning to conduct an investigation," Lamble said. "I can confirm it was not the police."
South Africa has one of the world's highest Human Immunodeficiency Virus infection rates, with at least 5.7 million of a population of 50 million believed to be infected. As many as 1,000 people die every day of AIDS-related illnesses.
($1=7.407 Rand)
(Reporting by Wendell Roelf and Tiisetso Motsoeneng; Editing by Reed Stevenson)
World
Add a Comment
*We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters.
© Copyright 2010 Thomson Reuters
Editorial Editions:
Africa
Arabic
Argentina
Brazil
Canada
China
France
Germany
India
Italy
Japan
Latin America
Mexico
Russia
Spain
United Kingdom
United States
Reuters
Contact Us
Advertise With Us
Help
Journalism Handbook
Archive
Site Index
Video Index
Analyst Research
Mobile
Newsletters
RSS
Podcasts
Widgets
Your View
Labs
Thomson Reuters
Copyright
Disclaimer
Privacy
Professional Products
Professional Products Support
Financial Products
About Thomson Reuters
Careers
Online Products
Acquisitions Monthly
Buyouts
Venture Capital Journal
International Financing Review
Project Finance International
PEhub.com
PE Week
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
Other News on Wednesday, 12 May 2010 Medvedev urges US action in 'very bad' Mideast situation
Pirates hijack Bulgarian tanker in Gulf of Aden: EU
Congress to tackle high-tech trading
Conservative Cameron takes over as British PM
|
US-TECH Summary
Britain PM Brown says to tender resignation to Queen
US economic worries spark calls for swift euro action
Apple questions Android smartphone surge
Berlusconi to pay ex 300,000 euros a month: reports
British PM arrives at Buckingham Palace to resign
Struggling Nokia revamps management team again
Earth may be too hot for humans by 2300: study
Biden son in hospital, recovering
Polish bank claims Europe's first biometric cash point
Captured Somali pirates 'evidently dead': Russia
Israel sees no discord with U.S. on nuclear issue
|
Nokia to create smartphone unit in reorganisation
AG Cuomo Sues Bank of NY Unit Over Madoff Scandal
Chile nabs Pakistani with trace explosive at U.S. embassy
|
Home Prices Rose In 91 U.S. Cities During Q1
Obama: Israel, Palestinians to be held accountable
|
"The View" To Host First Full Week Of Male Co-Hosts
Christina Aguilera Reveals New Album Details
Pakistani ambassador in Tehran attacked
|
Channing Tatum, Queen Latifah Are "Cheaters"
Tennessee Waste Management Worker Dies On Job
Struggling Nokia revamps management team again
Jersey Shore Casting New Guidos And Guidettes For 3rd Season
South African police bust HIV/AIDS pyramid scheme
|
Nokia to create smartphone unit in reorganisation
Explosion, Fire Outside Florida Mosque
"Twilight" Stars In Salary Disputes For Second "Breaking Dawn" Film
Oil companies trade blame over Gulf of Mexico spill
US senator likens oil spill to Titanic as hearings open
US-TECH Summary
US, Karzai pledge enduring ties despite sore points
Bomb kills 2 US service members in Afghanistan
US vows to stand by Afghanistan after combat ends
Hopes fade for peaceful end to Thai standoff
Pakistan ambassador in Tehran attacked
Buildup of top Afghan police seen as key for NATO
China, US to renew human rights talks
Missile attacks kills 24 in Pakistan tribal area
Video: Aussie father clasps infant as car hits
Apple questions Android smartphone surge
|
Struggling Nokia revamps management team again
|
China inflation rises as housing, food costs jump
Japan woos US transit head with 300-mph train ride
Miss USA pageant embraces naked ambition
Tenor Placido Domingo takes Pampano restaurant to Qatar
Playboy to feature 3-D centerfold
Louisiana fishermen say media, not oil, killing trade
Libeskind extension for Berlin Jewish Museum
London's Tate Modern celebrates 10 years of surprise success
Bollywood producer vows to fight US copyright case
Cape Verde diva Cesaria Evora has heart surgery
Tyra Banks tries hand at fantasy novels
|
Peter Frampton at 60: Do you feel like I feel?
|
Bling Ring actress jailed over Orlando Bloom break-in
|
US, Afghanistan pledge enduring ties despite rows
Cameron finally British PM after cliffhanger polls
Cameron leads Britain into new coalition era
|
Iran ready for nuclear talks with EU's Ashton
China Mobile interested in bringing Apple iPad to China
Pirates hijack Bulgarian tanker in Gulf of Aden: EU
Film world masses for topical Cannes fest
Passenger plane crashes in Libya, 105 dead: TV
|
Israel sees no discord with U.S. on nuclear issue
Thai army turns up the heat on Bangkok protesters
|
Microsoft updates Office, vies online with Google
Thousands protest Ukraine president's embrace of Russia
Cameron finally British PM after cliffhanger polls
Five Iraqi police killed in Baghdad bomb blast
Seven children, teacher die in China school rampage
|
Electronic Arts breaks losing streak
India's Viswanathan Anand wins world chess title
Google, Verizon working on tablet computer: WSJ
Russian mine death toll hits 60; 30 still missing
|
Scientists stunned as grey whale sighted off Israel
US targets computer trades after stock market meltdown
Israel says seized North Korean arms were for Hamas, Hezbollah
|
US looks to Europe to prevent wireless 'bill shock'
increases US search share, Bing up again
Yemen al Qaeda arm claims attack on UK ambassador
|
North Korea claims nuclear fusion, prompts skeptics
|
Twitter co-founder launches new venture: Square
Somali pirates seize Greek-owned ship in Gulf of Aden
|
Myanmar's Suu Kyi files new appeal against detention
Malaysia probes 3rd police shooting of suspect
Obama, Karzai to hold fence-mending talks
Recent violent attacks at schools in China
Malaysia's Anwar loses new bid to derail sex trial
Chile extends Pakistani's detention for five days
Microsoft updates Office, vies online with Google
|
Water, electricity cuts to Bangkok protest zone
7 children killed in latest attack at China school
Israel FM: NKorean arms on plane bound for Hamas
NKorea claims to achieve elusive nuclear fusion
Philippines' Aquino ready to take on family's burden
Water, electricity cuts to Bankok protest zone
China Mobile interested in bringing Apple iPad to China
|
India March industrial output slows to 13.5 pct
S.Korea June T-bond futures fall most in 7 weeks
Nissan slashes quarterly loss to $125 million
WRAPUP 2-S.Korea c.bank readies interest rate rise in H2
Canadian firm says in deal for Vietnam navy aircraft
PAKISTAN
S.Korea freezes key interest rate for 15th month
Samsung Life shares jump after record IPO
Stones roll out for NY film ahead of album launch
Seoul shares slip 0.4 pct; euro, China weigh
US-ENTERTAINMENT Summary
S.Korea c.bank sees uncertainties over econ growth
The 5 most inexplicably popular reality shows
Tokyo's samurai women punish fat with sword workout
Bateman, Aniston eye "Horrible Bosses"
Beatles 1966 press conference tapes for auction in LA
|
Niecy Nash no longer "Dancing with the Stars"
Niecy Nash no longer Dancing with the Stars
|
Jasper Johns 'Flag' leads art auction charge
Larry King and seventh wife reunite, stop divorce
|
Robin Hood's appeal tested again at Cannes
The 5 most inexplicably popular reality shows
|
"Avatar" fastest selling DVD after three weeks
Bateman, Aniston eye Horrible Bosses
|
Robin Hood opens Cannes, few U.S. movies in town
|
Larry King and seventh wife reunite, stop divorce
Hurt Locker lawsuit target pirates
|
Robin Hood's appeal tested again at Cannes
|
Avatar fastest selling DVD after three weeks
|
TV series shows hazards of underwater oil work
|
Greek unions call strike as economy halts decline
Netanyahu turns to Bible in tussle over Jerusalem
Russia to build Turkey's first nuclear power plant
Sharp develops 3D camera system for mobile phones
Overtime linked to heart risk: study
Germany economy grows by 0.2%
Europe moves to curb future debt crises
Siberia mine blast toll rises to 60: report
Iraq killing spree targets tribal chiefs, government workers
|
After long wait, US Senate takes up climate
Greeks set new strikes, economy firmly in recession
|
Russia says may lift veil on vast nuclear arsenal
|
Sharp develops 3D camera system for mobile phones
Peacekeepers warn of Darfur rebel, Sudan army build-up
|
U.N. resolutions vs Iran not worth penny: Ahmadinejad
|
Nine killed in latest China school rampage
|
Netanyahu turns to Bible in tussle over Jerusalem
|
US, Russian officials in talks on adoption deal
Thai army to limit water, electricity to protests
Foxconn defends labor practices after 8th suicide
Thai protesters vow to fight as siege looms
Microsoft launches new Office, vies online with Google
|
'Five terrorists killed' in raids in Indonesia
Dash for Jimmy Choo shoes ends with a winner
|
Taliban claims killing of Afghan prison official
Foxconn defends labor practices after 8th suicide
Aquino promises lean, graft-free Philippine gov't
Pakistan stocks end slightly up; rupee falls vs dlr
European stocks climb, gold hits record high
Nissan returns to the black with annual profit
Nine hacked to death in new Chinese school rampage
Euro fears resurface as gold surges in Asia
Pacquiao ready to fight Mayweather after vote win
Taiwan's Foxconn regrets Chinese employee suicide
Philippines' Aquino vows new era of clean rule
Nikon factory workers protest China gas poisoning
Crowe film opens Cannes film festival
India's industrial output up 13.5%
Recent violent attacks at schools in China
Samsung Life shares jump after record IPO
M&A deals possible risks to S.Korean banks-Moody's
Violin's bad boy brings Poland to London
|
Mark Strong Hollywood's go-to villain
|
Superhero porn parody films ready to fly
|
Indonesian police kill 5 militant suspects
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights