A Maputsoe man deposited M6 300 (about USD 384) into the SGK pyramid scheme this week. The Central Bank of Lesotho had already warned Basotho to stay away. Hundreds still joined.
The complainant reached the Lesotho Tribune by email on Friday. He asked to remain anonymous. He lives in Maputsoe. He deposited M6 300 (about USD 384) on Tuesday. The money was meant to pay clearing agents on Friday 17 July for a company known to this publication.
He now faces the loss of both the funds and his job. He called on authorities to act.
I plead with central bank to arrest these people, I’m going to loose my job.
Central bank warned of SGK pyramid scheme
The Central Bank of Lesotho issued a public warning on 25 June 2026. It named the SGK pyramid scheme among four illegal platforms. The bank said none of them held a valid licence.
The warning told Basotho to check any claim of licensing directly with the central bank. Hundreds of people still deposited money after the alert.
How the SGK pyramid scheme moved money
The Financial Intelligence Unit examined the SGK pyramid scheme in a May 2026 typology report. It described a faceless operation that claimed to run online advertising. Funds arrived from many unrelated people. The money then moved in cycles. Large sums were converted into cryptocurrency.
A later Financial Intelligence Unit notice recorded local companies carrying the SGK name. These included SGK Advertizing Maputsoe (Pty) Ltd. The companies were used to open bank accounts. Beneficial ownership stayed hidden.
Victim calls for arrests
The Maputsoe resident said the M6 300 (about USD 384) was intended for legitimate business costs. He appealed for the arrest of the Lesotho directors of the SGK pyramid scheme.
Social media groups have carried similar warnings in recent days. Posts describe an exit scam that targets new deposits of M6 300 for promised Friday payouts. The Tribune has not independently verified those posts.
The Central Bank of Lesotho continues to advise the public to avoid any scheme that promises rapid high returns. People can verify licensed institutions on the Central Bank of Lesotho website or by calling its published numbers.
[internal link: Central Bank of Lesotho warnings on unlicensed investment schemes]
Sources: Central Bank of Lesotho warning of 25 June 2026; Financial Intelligence Unit typology report on SGK (May 2026) and emerging-trend notice (June 2026); interview with an anonymous Maputsoe resident, 17 July 2026. The Tribune approached SGK Advertizing Maputsoe (Pty) Ltd for comment before publication. Currency conversions at M16.40 to the dollar.
