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Accused in court for running bogus investment scheme
2021/07/19

Media Statement
Directorate for Priority Crime Investigation (HAWKS)

FREE STATE – The accused Lebohang Ernest Maboea (25) appeared before the Phuthaditjhaba Magistrates’ Court on Monday, 19 July 2021 where he faced charges of fraud, theft and money laundering.

It is alleged that during February 2018 until May 2019, Maboea and the other suspect who is still at large were running illegal investment scheme by the name of Black Child Billionaire where the victims invested their money with a promise of getting return ranging from 25% to 100%. After a period of months, the victims did not receive their money as agreed. As a result the victims suffered a total loss of approximately R534 000.

The matter was then reported to the Hawks’ Serious Commercial Crime Investigation in Bethlehem for further investigation which led to the arrest of Maboea in QwaQwa on Friday, 16 July 2021.

The case against Maboea has been postponed to Monday, 26 July 2021 for formal bail application.

Ends

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Captain Christopher Singo
071 481 2568

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