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Hawks probe alleged investment fraud scheme

It's understood members of the public are being targetted by BTC Global to invest with promises of 2% interest per day, 14% a week and ultimately 50% every month.

FILE: A Hawks vehicle. Picture: Barry Bateman/EWN

JOHANNESBURG - The Hawks are investigating an alleged investment fraud scheme with more than 28,000 investors believed to have suffered collective losses of more than R1 billion.

It's understood members of the public are being targetted by Bitcaw Trading Company - also known as BTC Global - to invest with promises of 2% interest per day, 14% a week and ultimately 50% every month.

Payments were allegedly made every Monday and some of the investors did get a return in terms of the agreement, however, the payments suddenly dried up.

The Hawks' Hangwani Mulaudzi said: “There are many people who were part of these scams, so we are making an appeal for those who have not come forward to do so.”

The Hawks have urged members of the public to come forward if they believe they are victims of the investment scheme.

“The investigation is quite cumbersome, in the sense that we are talking about 28,000 investors who are believed to have been duped in a scam. They have suffered the loss in excess of more than R1 billion,” Mulaudzi said.

(Edited by Refilwe Pitjeng)