A 39-year-old man is expected to appear in the Kuruman Magistrate’s Court on Thursday on a charge of money laundering involving R400,000.
A 39-YEAR-old suspect is expected to appear in the Kuruman Magistrate’s Court on Thursday on a charge of money laundering amounting to R400,000.
Hawks spokesperson in the Northern Cape, Nomthandazo Mnisi, said the suspect was arrested in Sandton.
“The suspect was arrested on Tuesday, December 7, 2021 in Sandton by the Hawks’ Serious Commercial Crime Investigation team. It is alleged that during June 2020 the suspect received money, which was allegedly the proceeds of a crime, from Value FX investment company that is currently under investigation by the Hawks,” said Mnisi.
“The suspects who were running the Value FX investment allegedly lured community members in Kuruman to invest money in their company. The community members were promised that their investment would yield a 100% interest return.”
Mnisi said the investors were never paid their dividends.
“Some investors were paid part of their investments and were encouraged to reinvest their profits. The company later relocated without informing the investors. As a result, investors could not get their dividends as promised,” she said.
Mnisi added that more arrests are imminent.