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15 years, house arrest for Mossel Bay couple in forex ponzi scheme

Graeme and Caroline Minne duped nearly 1,000 unsuspecting victims with unrealistic annual returns of up to 65% in forex trading.

Picture: Supplied

CAPE TOWN - A Mossel Bay couple behind a multi-million rand ponzi scheme will be swopping their designer threads for prison garb after they were sentenced for fraud this week.

Graeme and Caroline Minne duped nearly 1,000 unsuspecting victims by enticing them with unrealistic annual returns of up to 65% in forex trading.

The pair had amassed over R278 million between 2002 and 2009.

The Hawks' Lloyd Ramovha said: “The victims fell for the scheme as they were promised high investment returns on forex trading but this was never realised as the couple used the money for themselves.

"Graeme has been sentenced to 15 years effective imprisonment whereas Caroline was slapped with a three-year house arrest.”

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