This follows their last court in the Kuruman Magistrate’s Court in the Northern Cape.

According to police spokesperson, Nomthandazo Mnisi, they were charged with alleged investment fraud and money laundering.

Mnisi further adds that the suspects allegedly paid investors to lure more people into their scam.

More victims invested their money and lost a combined amount exceeding R3 million.

In a statement, Mnisi says the suspects allegedly recruited people around the Kuruman area to join the “Namolaleuba Investment scheme” since June 2020.

“They misrepresented themselves to members of the community claiming that Namolaleuba is a registered investment company that gives investors high dividends after every 15 days,” she adds.

The duo was arrested by the Hawks’ Serious Commercial Crime Investigation team on Thursday, 28 January 2021, after the matter was reported to the authorities.

OFM News/Blaine Jones