CAPE TOWN – A man suspected of operating a Ponzi scheme in the Milnerton area will be appearing in the Cape Town Magistrate’s court next month.
Jaco Van der Westhuizen (35), the suspect, last appeared in court on Tuesday 14 March. He appeared on charges relating to allegedly running a ponzin scheme which appearently resulted in “investors” losing just over a million rand, the Hawks say.
Hawks Sopkesperson, Captain Lyoyd Ramovha, told Tyger-Burger the suspect handed himself over to the police after receiving a phone call from Hawks investigating officer.
“The suspect is from the Free States and travelled all the way down to Cape Town to hand himself over.
“He operated his business in the Milnerton area.” Ramovha says.
In a statement issues on Friday last week, the Hawks said it is alleged that between 25 August 2015 and 11 2016 Van der Westhuizen lured members of the public to invest their money with him and promised them higher than normal returns, which never materialized. The investors suffered losses amounting to approximately R1 078 600.
Ramovha says investigation began in earnest by the serious Commercial Crimes Unit of the Hawks, which revealed that the accuses was not registered in accordance with the financial services Board, thus being in contravention of section 7 of the Financial Advisory and intermediary services Act of 2012.
An appeal has been made to the public to always be cautious when it comes to their hard earned money.
“Stay away from investment opportunities that appear to offer higher than normal returns. Investing in the overnight wealth opportunities is as good as throwing money away. Any investment that looks too good to be true, is usually the case” Ramovha says.
The case has been adjourned until 7th April pending further investigations. He was however granted bail of R10, 000, Ramovha says.
Excerpts – Tableview Tyger-Burger