Publications
Partners
The Hawks’ Serious Commercial Crimes Unit in the Free State made another breakthrough against alleged bogus investors Moeketsi Ntshasa and Phetogo Molosi. The elite crime-fighting wing has managed to secure an order to preserve a luxury house valued at R2,9 million belonging to the fraud-accused.
The Ladybrand Magistrates’ Court granted the Asset Forfeiture Unit (AFU) the order based on evidence the Hawks presented in the court. This is part of the elite crime-fighting wing’s ongoing investigation into the fraudulent get-rich-quick scheme, Integrated Investment, the accused operated in Ladybrand.
“An in-depth analysis of the movement of monies deposited by victims who had invested through foreign-exchange (forex) trading pointed to a newly bought house in Ladybrand. Known victims, who are based in different towns around South Africa, invested about R21 million,” said Zweli Mohobeleli, provincial spokesperson for the Hawks.
According to the Hawks, 500 victims have opened cases after they become aware they were scammed after Ntshasa vanished and Integrated Investment closed from where it operated in Ladybrand.
The Hawks’ probing revealed the get-rich-quick investment scheme was operational from 2018 until 2021. The victims invested with the promise of getting 10% in return for monies invested.
Molosi
Mohobeleli said the accused, Ntshasa and Molosi, are set to reappear in the Ladybrand Magistrates’ Court for a trial from 15 to 19 July. He said charges against them include accounts of fraud, theft, money laundering, contravention of section 7 of the Financial Advisory and Intermediary Services Act, and contravention of section 11 of the Banks Act. Ntshasa was arrested on 15 August in 2022 by the crime intelligence team in West Rand, who traced him to his hiding place in Johannesburg.
Mohobeleli said the in-depth investigation revealed that the scheme was not registered as financial services provider. He said both the accused were currently out on bail of R10 000 each.
