A bogus investment fraudster, Motsamai Samuel Nyamane, dubbed as the ‘Bethlehem conman’ was yesterday, June 29 granted a R10 000 bail.
The 48-year-old appeared before the Ficksburg Magistrates’ Court yesterday, June 29, where he faced charges of fraudulent activities.
Free State Hawks spokesperson, captain Christopher Singo, attested that the accused was running an investment scheme called _‘Sea of Mountains_ ’, where the victims invested their money with an assurance of getting 50% interest return within a period of 30 days.
Singo said 38 people have given statements alleging to have been scammed by Nyamane through his bogus business.
“The longevity of the incident occurred between the months of April 2018 to December 2018, where the victims in no circumstances received their returns as assured by Nyamane,” said Singo.
‘’As a result of the fraudulent activities, the victims suffered a total loss of more than R600 000.’’
Singo said the matter was reported to the Hawks’ Serious Commercial Crime Investigation team based in Bethlehem for further investigation which then culminated to the arrest of the accused.
‘The case has been postponed to July 15, due to the transfer to the Regional Court.
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