Media Statement
Directorate for Priority Crimes Investigation (HAWKS)

GAUTENG - A 65-year-old suspect has been arrested by the Hawks' Serious Commercial Crime Investigation after handing himself over to authorities on Thursday, 04 December 2025 for fraud and money laundering.

The suspect, who is facing charges of fraud and money laundering, is alleged to have defrauded unsuspecting victims through his company by misrepresenting himself as a financial advisor. Victims deposited money into different bank accounts provided by the suspect promising to invest in offshore markets. However, the suspect never invested any of the money. Through investigation, it was discovered that the suspect was disbarred in 2009 as a financial advisor, and the company was not registered with Financial Sector Conduct Authority (FSCA). As a result of the suspect’s actions, victims suffered a loss of R100 million.

The suspect is expected to make his first appearance before the Palm Ridge Specialized Commercial Crimes Court on Thursday, 04 December 2025.

Ends

Enquiries:
Warrant Officer Thatohatsi Mavimbela
071 481 3473

X (Twitter): https://twitter.com/SAPoliceService
Facebook: https://www.facebook.com/SAPoliceService
Instagram: https://instagram.com/sapoliceservice_za/
YouTube: https://www.youtube.com/user/SAPoliceService
Website: www.saps.gov.za