Pretoria – Police have arrested eight people suspected to be part of a diamond investment scam in which investors lost over R4 billion rand.
The suspects were arrested in Gauteng and North West on Tuesday, (22 October 2024), by a multi-disciplinary operation led by the Northern Cape Hawks’ Serious Organised Crime Investigation unit.
“The suspects include a couple,” revealed Hawks spokesperson Colonel Philani Nkwalase, adding: “The husband is alleged to be the mastermind behind the scam along with his wife”.
Colonel Nkwalase said diamond investors have been scammed of more than R4 billion since 2019.
The syndicate is alleged to be involved in dealing with unpolished diamonds and fraud.
The mastermind allegedly advertised unpolished diamonds on social media and invited potential investors to invest in his diamond dealing business.
He allegedly promised lucrative returns, which complainants say never materialised.
The arrested suspects are expected to appear in Bronkhospruit Magistrate’s court on Thursday, (24 October 2024).
They face multiple charges that include fraud, money laundering, theft, and racketeering.
More arrests were imminent, Colonel Nkwalase said.
