In a significant breakthrough, a 52-year-old woman has been arrested for her involvement in a fraudulent investment scheme worth more than one million rands.
According to provincial police spokesperson, Lieutenant Colonel Stephen Thakeng, the woman was arrested on Tuesday by the Provincial Commercial Crime Investigation Unit in connection with a fraud case filed at the South African Police Service in Ritavi in May 2024.
Thakeng stated that in 2021, the suspect reportedly approached a male victim at his home and presented an investment opportunity. Persuaded by the fraudulent pitch, the victim raised over one million rands to invest.
“It is alleged that during the 2021 years, the suspect went to the house of a male victim and introduced an investment scheme advertised as Hyperfund. The victim was convinced about the fraudulent scheme and managed to raise more than one million rands and invested in the scheme.”
He added that the male victim was promised returns on his investment within three years. However, in March 2024, when the victim requested the return of his invested money, he was shocked to be told that the investment scheme had failed and that it was common for individuals to lose their hard-earned money.
Thakeng said the matter was promptly reported to the local police and was subsequently transferred to the Provincial Commercial Crime Investigation Unit.
“Following intensive investigations, it was established that the suspect benefitted from unlawful activities concerning the scheme and she was subsequently nabbed for a fraud charge,” he added.
The suspect is due to appear at the Ritavi Magistrate's Court on Wednesday.
The Star
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