A Hawks investigation team in Bethlehem arrested 39-year-old Caleb Ntuli in Palm Ridge in Gauteng on Saturday.
According to Free State Hawks spokesperson, Captain Christopher Singo, Ntuli allegedly ran the scheme between 2017 and 2019. "It is alleged that the victims invested their money into an investment scheme known as Tshwaranang Community Stokvel with a promise of getting an interest return of 30 to 50 percent within a period of 30 days.""The victims did not receive their money as promised. As a result, the victims suffered a total loss of R8 million," said Singo.
Ntuli appeared in the Phuthaditjhaba Magistrate's Court on Monday on charges of fraud, money laundering and contravention of the Financial Advisory and Intermediary Services Act.We live in a world where facts and fiction get blurred In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
nickymccain I can't thank you enough for all the smiles that you have been putting in my face ever since I met you and followed all your instructions towards my investment now I can say that I am back to my stand Karendeidreq
nickymccain Black Monopoly Capital strikes again! 🤮🤮
nickymccain He is going to blame apartheid
nickymccain I was scammed through Bitcoin couple of months ago, I started hating Bitcoin until I was introduced to Allison_Grillo, and I gave Bitcoin trading another try, I successfully withdrew $35,000 after two weeks of trading, am so grateful Allison_Grillo thank you