We earlier alerted the public about an investment opportunity under the name of Capital Chicken with warning signs of a Ponzi scheme. Today we want to bring your attention to a similar business under the name of Vetaplan Chicken.
As the name implies, Vetaplan Chicken is an investment that calls upon investors to inject money into their idea in exchange for dividends of up to 30% depending on the repayment period that you choose. Their minimum investment is 5,000,000UGX giving you guaranteed returns of 1,500,000UGX every 3 months.
Again, we shall not label this a scam or fraud for the time being. Our intention is to remind you the reader and potential investor to remain vigilant when presented with such well-crafted investment schemes.
Vetaplan does list its directors on its active website, with locations and phone numbers for their offices.
My point of concern however was that whereas they claim to be registered by URSB, which they may be as a company, they are not listed under the Uganda Stock Exchange which is the body that regulates publicly traded companies in the country.
Let’s not forget that many companies can easily be registered by URSB whose mandate is not to ensure that these entities don’t go on to defraud people. That’s the job of line entities in the respective industry that they deal in.
The website has stock pictures of chicken and poultry farms downloaded from the internet and none seem to be from the real farms that they want people to invest in. How hard is it to display photos to give potential investors a look into where the money will be put?
As usual, we shall keep our eyes open to see how this folds out.
