Hawks spokesperson in the Free State, Christopher Singo, says the 47-year-old Nicholas Mqiba allegedly promised his victims high returns on investments - which led to them investing large sums of money.

One of the victims, together with family members, invested a total of R276 000 from January until April 2018.

Mqiba made his first appearance before the Bloemfontein Magistrate’s Court on January 12 on allegations of investment fraud. It is alleged that during November 2017, Mqiba was invited to a church service by one of the prospective investors where he presented a Forex investment scheme to the congregants. 

In the presentation, Mqiba stated that he was a Chief Executive Officer of Merger Chen Solutions, and a pastor in Phalaborwa.

The victims received no return on their investment, when a follow-up was made it was realised that the scheme was, in fact, fraudulent.

"The matter was reported to the Hawks for further investigation, which culminated in the arrest of Mqiba on 5 January 2022 by the police," says Singo.

OFM News