A now defunct get-rich-quick scheme has left Bermudian investors up to $200,000 out of pocket.

Around 2,000 amateur investors dazzled by dollar signs paid $100 a time to sign up to the Ujamma money-making system last year.

Clients pledged their cash for "the opportunity to make thousands, maybe even millions, of dollars''.

Introductory brochures said it was "almost impossible'' to make a loss in the marketing scheme, claiming it was a client generator programme helping investors receive at least $10,260.

The Bermuda Monetary Authority called for new laws to vet similar chain-type schemes back in February.

And Ujamma operators at Pembroke-based Nia Enterprises have now gone to ground, with their business closed and their office phone out of order.

One of the investors, who has not received a cent since pledging her $100, said other clients were now joining together in a bid to win back their cash.

She said "very few'' known investors on the Island had received any money at all, one year on.

Others may have been handed back $60 from their original $100 stake, she added.

"The problem is that we're not sure if we have any legal recourse,'' she said. "We will try to speak to an attorney to find out exactly what our rights are.

"But we're no longer in touch with the organisation and it looks like we've been taken for a ride.

"We know there were about 2,000 investors in Bermuda alone and paying $100 each, that means there is about $200,000 to get back from the company.'' Nobody formerly involved with Nia Enterprises was available for comment last night.

But programme administrator Juanita Swan defended the scheme when The Royal Gazette ran a story in February.

She said: "What we are doing isn't illegal. We have never misled any of our clients. We have clients who have received funds and also clients who haven't received funds.

"But we are just information brokers and we provide our clients with all sorts of wealth generation programmes.

"The guarantee is fulfilled via our marketing efforts and an opportunity to generate the income. Clients can either take advantage of our information or they cannot.'' GOVERNMENT GVT