Northern Cape man arrested on R400,000 money laundering charges

Investigators said the man received money, believed to be the proceeds of crime, from the Value FX investment company, which is currently under investigation by the Hawks.

Handcuffs. Picture: @SAPoliceService/Twitter.

CAPE TOWN - A 39-year-old man has been arrested in the Northern Cape on money laundering charges involving R400,000.

Investigators said the man received money, believed to be the proceeds of crime, from the Value FX investment company, which is currently under investigation by the Hawks.

The company duped Kuruman residents, making them believe funds they invested would yield a 100% interest return.

The Hawks Nomthandazo Mbambo said the suspect was arrested by the Hawks' Serious Commercial Crime Investigation team in Sandton, Johannesburg on Tuesday.

"A 39-year-old is expected to appear before the Kuruman Magistrate's Court on Thursday. More arrests have not been rolled out."