The story behind The unfinished Villa Retail Park, Delmas Rd, Moreleta Park, Pretoria

1. In the early-to-late 2000s, an estimated 40,000 people, mostly retirees, poured about R5 billion into property syndication company Sharemax. One of the investment scheme's biggest projects was to build a 90,000 square metre R3.5 billion shopping centre rivalling Menlyn Mall

2. Alarm bells were rung by market-watchers as early as 2003. Investors were later warned the handsome 12.5% annual return on their investment that comprised monthly interest cheques will eventually stop arriving when the scheme goes bust, as indeed it did.

3. Sharemax Investments collapsed in 2010 after a registrar of banks investigation found that Sharemax’s funding model had contravened the Bank Act.

*Source: Business Insider