Ninth suspect nabbed in diamond investment scam

JOHANNESBURG - A ninth suspect has been arrested on Wednesday in connection with the alleged diamond investment scam worth R4 billion.

On Tuesday, The Hawks arrested eight other suspects in Gauteng and the North West provinces.

It's believed that controversial diamond dealer Louis Liebenberg and his wife are part of the arrested group. 

READ: 8 suspects linked to R4 billion diamond investment scam arrested

The Hawks allege that a married couple has been behind the operation since 2019. 

Hawks spokesperson Philani Nkwalase said the syndicate is alleged to be dealing with unpolished diamonds and fraud. 

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