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“Investor” defrauds clients and Runs Away

Fraud Alert:

Matatiele: On 3 July 2016 the Matatiele Police opened a case of theft by false pretence against an investor who disappeared after defrauding more than 500 people with their money as an investment.

It is alleged that many people invested a lot of money with the hope of getting more interests in return, but it wasn’t the case here, because instead of receiving the proceeds of their money invested, the investors closed down the businesses and disappeared without a trace.

The business clients realized this sometime last week when some of them visited the investor’s offices in town to invest again/receive the interests. They were shocked when noticed that the investors were no longer there.

A case has been opened and more than 200 defrauded clients have filed statements.