A 30-year-old man has been arrested by the Hawks after allegedly defrauding investors of R2 million through a fake forex trading scheme that promised lucrative returns.
Ruan Maritz was taken into custody on March 25 in Hartswater, Northern Cape.
Directorate for Priority Crime Investigation (Hawks) spokesperson, Lieutenant Colonel Tebogo Thebe, said that Maritz allegedly operated under the guise of a legitimate broker for Quick Trade Investment and Forex Trading, targeting multiple victims across the province.
"The investment contract stipulated that when clients invest 50%, the broker will add with the same percentage, a promise he never honored," said Thebe.
As a result, victims suffered financial losses amounting to R2 million.
Maritz made a brief appearance before the Hartswater Magistrate’s Court on March 26, where he was granted bail of R50,000.
"The matter is postponed to May 12," Thebe confirmed.
The arrest follows a similar case in Durban, where Mfundo Manci, 33, was sentenced to ten years in prison for defrauding investors through a cryptocurrency scheme.
Manci ran Crypto Mzansi Group (PTY) LTD, promising high returns but instead used new investors' funds to pay old ones.
When his scheme collapsed, Manci vanished, cutting off contact with both his investors and family while on a business trip to Cape Town. His disappearance prompted his family to report him missing, while defrauded investors took legal action.
The NPA’s Asset Forfeiture Unit (AFU) obtained a preservation order to freeze his bank accounts, and after running out of money, Manci voluntarily surrendered to authorities. His case was then transferred to Durban, where he was convicted.
The AFU order ultimately facilitated the recovery of more than R4.5 million from Manci.
He was sentenced to 15 years in jail, with five suspended.
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