A mother (44) and daughter (22) duo have been arrested for alleged investment fraud and money laundering in Kuruman.
The team of fraudsters lured community members with promises of high dividends after just 15 days of investing in their company, Namolaleuba Investment Scheme.
They claimed that Namolaleuba was a registered investment company. They are suspected to have been operating in the Kuruman area since June 2020.
According to SAPS, the suspects allegedly further paid some investors to recruit more people into the scam. The cumulative amount invested by victims of the scam exceeded R3 million.
SAPS reported that the Hawks’ Serious Commercial Crime Investigation team apprehended the two fraudsters on Thursday, 28 January 2021, after the matter was reported to the authorities.
The duo appeared in the Kuruman Magistrate’s Court yesterday.