A 52-year-old woman has been arrested for allegedly scamming a man out of R1m he had given her to invest.
Limpopo police spokesperson Lt-Col Stephen Thakeng said the complainant said the suspect had visited him in Ritavi in 2021 to sell him a scheme called Hyperfund. He said he raised R1m to invest and was promised that he would receive the money back with lucrative interest in three years.
When he tried to cash in on his “investment” in March last year, however, she told him “the investment scheme did not succeed and it happens that individuals lose their hard-earned money”.
He opened a case with police, who handed it over to the provincial commercial crime unit for investigation. Their preliminary information indicated she had “benefited from unlawful activities concerning the scheme,” Thakeng said.
The woman was arrested on Tuesday on a charge of fraud and was due to make a first court appearance on Wednesday. Police investigations are ongoing.
TimesLIVE
I waited three years, but my R1m was gone: victim of 'Hyperfund scam'
Accused told man investment scheme did not succeed and there was no money
Image: 123RF/OLIVIER LE MOAL
A 52-year-old woman has been arrested for allegedly scamming a man out of R1m he had given her to invest.
Limpopo police spokesperson Lt-Col Stephen Thakeng said the complainant said the suspect had visited him in Ritavi in 2021 to sell him a scheme called Hyperfund. He said he raised R1m to invest and was promised that he would receive the money back with lucrative interest in three years.
When he tried to cash in on his “investment” in March last year, however, she told him “the investment scheme did not succeed and it happens that individuals lose their hard-earned money”.
He opened a case with police, who handed it over to the provincial commercial crime unit for investigation. Their preliminary information indicated she had “benefited from unlawful activities concerning the scheme,” Thakeng said.
The woman was arrested on Tuesday on a charge of fraud and was due to make a first court appearance on Wednesday. Police investigations are ongoing.
TimesLIVE
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