UPDATE: Ninth suspect arrested for diamond investment scam

A PROSECUTION-guided, multi-disciplinary operation led by the Northern Cape Hawks’ Serious Organised Crime Investigation unit has resulted in the arrest of nine suspects linked to a suspected diamond investment scam. The ninth suspect was traced and apprehended on Wednesday morning.

The suspects were arrested in Gauteng and the North West provinces during an operation that began on Tuesday and concluded on Wednesday.

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Hawks spokesperson Colonel Philani Nkwalase said that the syndicate is alleged to be involved in dealing in unpolished diamonds and committing fraud.

“The mastermind/leader allegedly advertised unpolished diamonds on social media and invited potential investors to invest in his diamond dealing business, with the promise of a lucrative return, which never materialised,” said Nkwalase.

Among the suspects is a couple, with the husband reportedly the mastermind behind the scheme, supported by his wife.

Nkwalase said the investors have been defrauded of more than R4 billion since 2019.

Investigations are ongoing, and more arrests are expected. The suspects are set to appear in the Bronkhorstspruit Magistrate’s Court on Thursday, facing charges that include fraud, money laundering, theft, and racketeering.

The acting national head of the Directorate for Priority Crimes Investigation (Hawks), Major-General Matroos, praised the efforts of both the investigation and prosecution teams for dismantling the syndicate. He added, “These successful integrated efforts by the security and justice entities are an indication that the long arm of the law will finally catch up with those acting outside the law, no matter how long it takes.”