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What is Rose Valley chit fund scam?
How was the scam carried out?
The Rose Valley Group lured investors into purchasing holiday membership plans, under the pretense that these plans would give them access to luxurious resorts and hotels. However, the group never actually constructed any of these properties. Instead, they used the money from incoming investors to pay off earlier investors, in the classic style of a Ponzi scheme. They also used the funds for their own personal gain, spending extravagantly on mansions, yachts, and high-end cars.