South Sudan’s apex bank orders freezing accounts of Silicon Valley
The Bank of South Sudan (BOSS) has directed commercial banks to freeze the accounts of the Silicon Valley Company Ltd.
The order was issued on 23rd September to commercial banks by Deng Aru Bol, the BOSS Director of Supervision Department.
“The Bank of South Sudan’s [BOSS] top management would like to inform you that Silicon Valley CO.LTD is still under investigation on issues related to compliance with all the laws of South Sudan. Therefore, you are therefore directed to block and freeze the bank accounts of Silicon Valley Co.ltd until further notice,” said the letter written to commercial banks by Bol.
Deng’s directive comes after some South Sudanese stormed the company’s offices in Juba claiming their shares.
Eye Radio in it’s story “Fears as online company some S.Sudanese invested in suspends site” on September 12th, said Silicon Valley firm initial investment plan in South Sudan required to create an online account filled by interested persons with their details and of which they are to select small, mid, ,big or VIP capital plans.
The online website revealed that unspecified number of South Sudanese subscribed to the network and deposited different amounts in anticipation to reap profits.
Some people opted for small capital plan between 50 and 500 US dollars and expected to earn 345.6% in interest rate in 8,640 hours.
While those who chose a medium capital plan deposited 600 to 2,000$ and expected to earn 518.4% in a month.
Adding that investors who selected big capital plan deposited between 2,100 to 20,000 and were to earn 691.2% in 8,640 hours.
The last stage, the VIP capital plan was for those who intended to invest between 25,000 to 100,000 U.S dollars with a profit margin of 864% in a month.
