Trio In Court After Investors Lose R3m In ‘Pyramid Scheme’

Trio In Court After Investors Lose R3m In ‘Pyramid Scheme’…  A suspect implicated in a “pyramid scheme” that allegedly fleeced investors out of R3m has joined two co-accused in court in the Northern Cape.


Trio In Court After Investors Lose R3m In 'Pyramid Scheme'


Andile Blessing Mkhize, 33, was arrested by the Northern Cape Hawks on Friday for investment fraud. He was traced and arrested at Molweni in KwaZulu-Natal.

Mkhize joined his co-accused in the Kuruman magistrate’s court on Monday.


Hawks spokesperson Capt Tebogo Thebe said the trio allegedly ran a bogus investment company, Value FX Made Easy, between October 2019 and July 2020 in Kuruman.

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“Community members invested their money with the company and some were paid half of their returns while some were not paid at all. Thereafter the company operators vanished with the community’s investment estimated to be about R3m.”

Two other suspects, Siphephelo Zondi and Tshepo Mabaso, were arrested earlier. Zondi was denied bail while Mabaso was granted bail of R5,000

During the arrest of Mkhize, police seized two vehicles worth about R360,000.

The case was postponed to June 10 for a formal bail application.

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