Eight suspects have been arrested for running an elaborate scam that saw unsuspecting diamond investors being duped of a staggering R4 billion.
The arrests were revealed by the Hawks on Wednesday morning, adding that the suspects were nabbed in the North West and Gauteng.
The alleged con artists are scheduled to appear in a Mpumalanga court on Thursday.
“A multidisciplinary operation led by Northern Cape Hawks’ Serious Organised Crime Investigation unit resulted to the arrest of eight suspects who are alleged to have been involved in the diamond investment scam,” said Hawks spokesperson Colonel Philani Nkwalase in a media statement.
“The operation, which resumed last night, rounded up suspects in Gauteng and North West. The suspects includes a couple wherein the husband is alleged to be the mastermind behind the scam along with his wife. Diamond investors were scammed of more than R4 billion since 2019.
“More arrests are imminent, and the suspects are expected to appear in Bronkhospruit Magistrate’s court on Thursday, 24 October 2024, on charges which includes but not limited to fraud, money laundering, theft and racketeering,” said Nkwalase.
The Hawks are yet to reveal the modus oparandi.
Insurance fraud
Meanwhile, last week the Hawks’ Johannesburg-based Serious Commercial Crime Investigation team arrested Morwamakgale Abram Maheso, 32, on a warrant for R800 000 alleged fraud in respect to a case registered at Norwood police station in August 2020.
“Maheso is said to have approached Liberty Group and Stanlib on April 16 2020. He applied for a business investment policy with Liberty, providing an ABSA bank account in order for R800 000 to be debited as an initiation to fund his Liberty business investment policy.
“However, during the verification process, it was discovered that the ABSA bank account did not belong to Mr Maheso but to Ngwathe Local Municipality. He was arrested on Wednesday, 15 October 2024. He consequently appeared in the Palm Ridge Specialised Commercial Crimes Court on the same day.
“The Hawks’ investigation has revealed that Maheso had fraudulently provided a bank account belonging to Ngwathe local municipality in the northern part of Free State, under the pretext that it was his own, with the intent to defraud the municipality by using Liberty to debit the funds so he can later claim them from Liberty.”
