At the heart of the application was the devastating experience of Mrs. Wentzel, a 60-year-old pensioner. Her journey began in July 2024 when she encountered an online advertisement featuring a “deepfake” video of a supposed SABC interview with Elon Musk. The ad promoted an investment platform called ‘Immediate Matrix,’ promising investors they could turn a R4,700 deposit into R34,300 within a week.
After registering her details, Wentzel was immediately contacted by an agent from Banxso. Assured she was investing in the advertised opportunity, she was assigned a “success manager” who guided her trades. Completely reliant on this advice, she initially invested R1,800 and saw a quick paper profit of R900. Encouraged, and under…