Operator of so-called fast money-making scheme 5 Golden Dreams Investment Norman Bade, says the scheme has hit rock bottom and has no money left to repay his clients’ deposits.
Bade, who is based at Lata, Temotu, made this latest revelation to the Sunday Star.
He has more than 2000 clients who deposited various amounts of money with him on the promise they’d be paid a handsome profit.
However, Bade has decided to come clean and admitted he has no money left to refund his clients’ money.
“This is the situation that I’m in today,” he said.
In the past months, he has been under intense pressure from clients in both Lata and Honiara to refund their deposits.
Bade has been promising them that he would refund their money when he’s had enough in his pocket.
His latest revelation would shock his many clients.
Bade also cancelled a trip he announced recently to come to Honiara to meet his clients.
His Honiara-based clients say Bade would risk his life if he ever comes to the city.
“We deposited our money with him the last time he came to town on the promise that he would pay us back with interest,” one client said.
“We would not like to see him in Honiara again if he fails to refund our money.”
Recently, some of his clients in Lata also threatened to burn down his property.
He’s got a piece of land in Lata, which he bought for $250, 000.
BY ELLIOT DAWEA