It’s reported that victims had invested money into a bogus investment scheme with a promise of getting high interest returns after thirty days. Provincial Hawks spokesperson, Christopher Singo, says that the victims did not receive their money as promised and as a result they suffered a total loss of R600 000.

According to Singo the two suspects, who are believed to be a couple, were identified as Albert David Titus and Bonolo Millicent Titus.

He adds they have since disappeared from Ladybrand, from where they were presumably operating their business.  

Singo has called on anyone with information that may assist police in locating both suspects to contact the investigating officer, Sidwell Mpholo on 082 372 0386.

He also adds that any information received will be treated confidentially.

ALSO READ: Bogus Free State businessman arrested, to apply for bail

A Free State businessman, also from Ladybrand, was recently in trouble with the law. The 36-year-old Moeketsi Ntshasa appeared before the Local Magistrate's Court on several charges, including fraud and money laundering, contravening section 7 of the Financial Advisory and Intermediary Service Act, and contravention of section 11 of the Banks Act.  This, after Ntshasa scammed victims of R10 million.

ALSO READ: Free State fraudster sentenced to 25 years behind bars

Another Free State fraudster was sentenced to 25 years imprisonment for scamming an investor out of more than R500 000. Akak Ekoto pretended to be a businessman and convinced a man to invest in his bogus chemical distribution company three years ago.

The unsuspecting investor deposited R432 000 and another amount of R98 000 into two separate accounts which were under Ekoto's name.

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