A 35-year-old man accused of defrauding unsuspecting investors more than R7 million is expected to make an appearance in the Palm Ridge magistrate’s court on Monday, 18 October 2021.
According to the Directorate for Priority Crimes Investigation (DPCI), also known as the Hawks, the man led a well co-ordinated scheme, in which he would convince wealthy people to invest with him, with the promise of receiving high returns.
Hawks pounce on Joburg scammer
The Hawks say the man was so convincing in his fraud scheme that he even operated from an office in upmarket Sandton, for about two years.
“It is alleged that from November 2017 to February 2019, the suspect rented an office in Sandton under the Goldmine Stock Market Traders (Pty) Ltd, promising 100% interest to the investors,” said Hawks spokesperson Katlego Mogale.
But, Mogale adds, the man eventually moved out of the building and vanished with investors’ money, none of whom ever got their interests, as promised. They swooped in and managed to arrest the suspect at his home on Thursday.
“He allegedly targeted affluent people who would invest millions of rands into his scam. None of them received the promised interest, nor the capital. The suspect moved office and disappeared.”
Hawks spokesperson Katlego Mogale.
from The South African https://ift.tt/3j8DO6o
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