Northern Cape Hawks arrest eight suspects for R4 billion diamond investment scam

A MULTI-disciplinary operation led by the Northern Cape Hawks’ Serious Organised Crime Investigation unit has resulted in the arrest of eight suspects allegedly involved in a diamond investment scam.

Hawks spokesperson Lieutenant-Colonel Philani Nkwalase said on Wednesday that the operation rounded up suspects in Gauteng and the North West. Among those arrested are a couple, with the husband alleged to be the mastermind behind the scam, along with his wife.

Colonel Nkwalase said that diamond investors have been scammed of over R4 billion since 2019.

Authorities anticipate more arrests in the coming days. The suspects are expected to appear in the Bronkhorstspruit Magistrate’s Court on Thursday, October 24, facing charges that include fraud, money laundering, theft, and racketeering.