DefenceX, Chris Walker, Moneyweb & Pyramid Schemes

There was an interesting article on Moneyweb the last couple days about a company called DefenceX, setup by Chris Walker, which has been shut down while it’s being investigated for being a pyramid scheme.

Apparently, people were promised a huge return on DefenceX, a return so large, that most people should have realised it as being a potential pyramid scheme before they invested.

What I find fascinating is the comments on Moneyweb on all the articles on DefenceX. There seems to be a comments war taking place between those people that clearly see DefenceX as a pyramid scheme, and the other side, those that believe Chris Walker is operating a legit business, and that the banks, government, rich etc are the reason for shutting down DefenceX, as they are worried about too many people becoming wealthy.

And one of the comments was from a guy that was totally honest that he knew it was a pyramid scheme, but was still prepared to invest R40k, as he believed he was early enough in the business, and would get his money out before it went under.

It’s really sad when I read stories like this about people that can’t afford to lose cash, losing cash. And unfortunately, this won’t be the last time.

Eric EdelsteinDefenceX, Chris Walker, Moneyweb & Pyramid Schemes
Comments
Nicodemus Molefe says:

Pls leave the Defecex alone. It is the mssiah that is sent on earth to the poor and the rich. With the loan funds one was able to reimburse the loan funds in 50 days and last 25 days earn interest. The withdrawable and reinvestment of earnings was done at anytime. No storage fees, no interest charged, no bank charges…The Registra of Banks leave Chris alone…Unemployed people were surviving by means of Defencex…People developed a lot of confidence within themselves…leave defencex alone..

Mohale says:

I am now stressed, not because of Chris but, because of the government (REGISTRAR OF BANKS AND THE CAPE HIGH COURT). I was able to pay my debts well because of the GOD-GIVEN DEFENCEX. Now the DEVIL (government, registrar of banks and the high court) is making me a bad payer. DEVIL! leave Chris and the participants in defencex alone to make South Africa a better country.

Mike says:

Why are they allowing Chinese to operate an illegal FAFI game freely without any disturbance? No-one complained that defenceX has robbed them money, our government do not want to see people prospering in this country.

Eddy Rave says:

People must not panick, we will get all our money back, the only matter is that banks must stop consuming our money through charges.

The registrar of the banks lied to us when he said the public complained about Defencex. Of course I wouldn’t deposit my defence share in the bank, because I will not have interest but charged fot deposits and withdrawal. To the ROBs, you remind me of the Animal farm story, so whether, Chris is robbying us, it is our money and we must use it the way we want. I pbet LOTTO, SLOTS, CARDS and anything that can make money and it cannot somebody’s worry. The ROBs and your cronnies, you are disturbing us. why don’t solve the unemployment matter people are faced with. I have now lost R12000 for 2 weeks and I have no money to pay my loan.

lazarus ngulube says:

everyone the gvnt banks man in the street are crying of unemployment/starving/housing/take notes defencex never left not one of its members crying foul paid in time no cent ever varnished ifgvnt /banks have a better solution than chris plse make any anouncement everyone will be happy but as for what you did to defencex family we already are feeling the heat how do you expect people to pay their debts think of us (sars) is happy defencex family was happy

Gwen says:

As you can see the comments are all positive on the changes that Chris and his programme has brought to the many South Africans who are part of the Programme. Whoever created this platform I just hope that you intended the forum for the purpose we think it was intended for, that is, taking our take and view on the whole court order saga against Chris and his Programme. One would suppose that perhaps the banks and the Government are scared that if poverty is alleviated and we are all rich, then they would loose the benefits that they are reaping from the high taxes and interest rates that they are charging us. I have not seen any other system in South Africa whether by Government or by a private institution or individual that was effectively and efficiently addressing the poverty and joblessness that South Africa is facing the same way that Defencex was. Perhaps we could strike a deal with the Government that members be fairly taxed on their returns and the tax will still go to their fraudulent and corruption practices and perhaps a little could also go to uplifting the lives of the poor, that is if we would still have any left. Some have grown their incomes from as little as R500 that they borrowed from friends, family and all who care about others, unlike our uncaring Government. The sceptism about the Programme collapsing will also not be there as the Programme will be completely legal and people being aware of the benefits. The Government is just happy with the 1% motsepes and the Guptas as they also benefit from them and the 99% poor who will always vote for them with the promise for a better life for all. Chris actually made a better life for all a reality for all that were participating in the Programme. I hope the Government and its justice system would see reason and find a way to deal with the matter other than by way of making the court order final. Oh God please hear our prayers and have mercy on us, your children of South Africa. As sons and daughters of the utmost high, we cant be doomed to this life of poverty for us we deserve our riches!!!!!

Cleo says:

I don`t see defencex as a pyramid scheme because you don`t have to recruit in order to get money, you just buy points and earn from them that`s all. Defencex does not emphasise the need to recruit hence they say RECRUITING IS OPTIONAL, though they offer commission to those who have recruited. ” A BRILLIANT STRATEGY TO MARKET YOUR BUSINESS WITHOUT EMPLOYING FULL-TIME AGENTS”.

Defencex is not a trap either in that once you buy points you get your money as promised, it has brought so much joy and hope in people`s lives.
How many unemployed professionals are out there who were dependent on this scheme only because the government has failed them?

If this is the business of the banks, why are the banks not doing it then instead of draining our money? Would we look elsewhere if they were really doing it?

Litha Gija says:

i had big dreams and was happy that defence x was gonna help to escalarate my dream, i only joined end of jan with borrowed funds, and made 2 withdrawals and i made nice commissions now it’s all gone…..this guy uChris gave me too much hope and i am behind him

however i think if the court closes him down we as depositors should be refunded all our monies. if defence x is not pyramid scheme i see no reason why it should be closed

Liyema Mbats says:

I support Gwen when she is saying that if Chris has some penalties to pay, they must just let him correct that and let him pay the penalties and let the programme continue. if they dont want him to continue, then they must release the money to all defencex members who have deposited their monies to defencex.

Also, it must be understood that people are suffering and therefore wont let an opportunity of making money just go away especially when you have not killed or robbed someone. Most Deffencex members did not know that they are falling into a trap as most people getting back their monies.

Just be fair and release the members monies and continue with your investigations please because at this stage its not Chris who is holding our money but the High Court through Registrar of Banks!

singo says:

whe there is a help from the defencex.will support chris,the one who provide new life to RSA.if u dont join dont distab

Millicent says:

The government and the banks must focus on real cases of corruption. They must leave Chris alone. How are they solving the unemployment issue? Chris is empowering the masses. LEAVE DEFENCEX ALONE. U must investigate the Inkandla saga, investigate ridiculous bank charges. Banks have been ripping the poor masses 4 a long time.. Turn the tables let the govt and the banks feel the heat. We are tired of remaining poor. Chris made our lives 100% better. We love u Chris, we r behind u

Idren says:

Pls help gudppl, i was afraid 2take a loan so ive been saving for defencex and am nearly close 2money i need. Whn i see defencex shutdown am getting confused and its not easy 2believe. Wht i want 2knw is defencex really closed or its under investigation bt stil active?

Gwen says:

well at defencex we were not promised huge returns but we were actually receiving them without fail. being a member i was already in the process of building my 2.7mil mansion. its said that as south africans we have lost so much from fraudulent schemes that we cant even see hope when its on our doorsteps. my take is if there is any law that chris has contravened which i say without fear of contradiction that it was not intentional..they must just let him correct that and let him pay the penalties and let the programme continue. i wish people like you could get their facts straight before spreading false info. i can bet that there has never been any complaints from members. we thank God for Chris i hope all goes well with the investigations