JOHANNESBURG, (Reuters) – South African authorities  busted a pyramid investment scheme yesterday involving a  company offering HIV/AIDS treatments in a country with one of  the world’s highest infection rates.

Finance Minister Pravin Gordhan announced the police action  in a budget vote speech to parliament, and Revenue Service  spokesman Adrian Lackay said executives at an unnamed firm  allegedly misappropriated 100 million rand ($13.5 million)  invested in an “immune booster pack for HIV/AIDS sufferers”.

South Africa has the world’s largest Acquired  Immunodeficiency Syndrome (AIDS) treatment programme, and plans  to double that with a $960 million scheme to increase access to  AIDS-suppressing anti-retroviral drugs to 80 percent of  sufferers by 2013.

Authorities did not disclose the name of the company but  said it was listed on Johannesburg’s alternative investment  market.

In a pyramid scheme, new clients are recruited to pay money  and to recruit ever more clients to sustain itself.

Police and tax inspectors raided premises in Durban and  Pretoria and arrests were expected to be made, Lackay said,  adding that the company and individuals would not be identified  until they were formally charged.

“We will not disclose the name of the company until formal  charges are brought before a court of law,” said Lackay.

Imuniti, whose website describes itself as a pharmaceutical  and natural medicines maker, said South African Revenue Service  (SARS) inspectors had searched its Durban offices yesterday  morning but denied police had been present.