RETORIA – A mutli- disciplinary operation led by Northern Cape Hawks’ Serious Organised Crime Investigation unit resulted to the arrest of eight suspects who are alleged to have been involved in the diamond investment scam.
The operation, which resumed last night, rounded up suspects in Gauteng and North West. The suspects includes a couple wherein the husband is alleged to be the mastermind behind the scam along with his wife.
Diamond investors were scammed of more than R4 billion since 2019.
More arrests are imminent, and the suspects are expected to appear in Bronkhospruit Magistrate’s court on Thursday, 24 October 2024, on charges which includes but not limited to fraud, money laundering, theft and racketeering.
What is Fraud? “Fraud” is any activity that relies on deception in order to achieve a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if you lie in order to deprive a person or organization of their money or property, you’re committing fraud.