SERIES: Scam Empire
AmaBhungane is part of an international consortium of journalists who have gained access to a colossal leak of data from within one such operation, an astonishing and highly organised multinational syndicate simultaneously operating dozens of platforms around the world. Its tentacles spread from the UK and Australia to Poland, Japan and, crucially, South Africa. Exacting records show the scale of the cynical exploitation of aspiring “traders”, the tricks of the trade and the reliance on fakery, shell companies and tangled local and international financial arrangements. And yes, more or less everyone loses their money.
Scam Empire Part One: Inside the dark heart of a multinational investment scam
Dewald van Rensburg and OCCRP
5 March, 2025
A little-known Bulgarian entrepreneur named Boris Kodzhov has, since 2023, quietly made mammoth strides in the South African fintech sector.
Scam Empire part 2: behind the veil
Dewald van Rensburg
18 March, 2025
Two weeks ago we revealed the existence of an astonishing international syndicate allegedly scamming tens of thousands of people worldwide.
Scam Empire Part 3: Money in, money out
Dewald van Rensburg
13 April, 2025
This investigation is based on a large leak of data originally provided to Sveriges Television, the Swedish national broadcaster, to which amaBhungane has gained access as part of a global consortium of media organisations coordinated by the OCCRP.

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