The Ethiopian Federal Police have announced the discovery of a significant fraudulent operation involving the misrepresentation of electric vehicles in Addis Ababa. According to official findings, a fintech company allegedly orchestrated a scheme to deceive the public regarding the origin and legitimacy of its vehicle fleet.
Investigators revealed that the company gathered various vehicles from different sources and displayed them at Meskel Square. The firm reportedly misled the public by claiming these vehicles were imported directly from abroad as part of an official partnership. Furthermore, the police investigation determined that the company had no formal contractual agreement with the renowned Chinese electric vehicle manufacturer, BYD, despite claims to the contrary.
This incident has raised concerns regarding consumer protection and the integrity of the emerging electric vehicle market in Ethiopia. The Federal Police are continuing their investigation into the company's activities to determine the full extent of the deception and the legal consequences for those involved.
Authorities have urged the public to exercise caution when engaging with companies making extraordinary claims about international partnerships or exclusive import rights. The police emphasized that verifying official documentation and direct manufacturer confirmation is essential before participating in any investment or purchase programs related to such high-value assets.
Source: Telegram / tikvahethiopia