A 60-YEAR-OLD woman and her son appeared in the Ladybrand Magistrates Court in the Free State this week on charges related to an alleged illegal investment scheme that reportedly defrauded residents of nearly R1 million.
Pontsho Faith Lepoqo and her 34-year-old son, Sebotsa Washington Lepoqo, face multiple charges, including fraud, money laundering and violations of both the Financial Advisory and Intermediary Services Act and the Banks Act.
The duo was arrested by the Hawks’ Serious Commercial Crime Investigation unit based in Bethlehem after a warrant was issued.
Hawks provincial spokesperson Lieutenant Colonel Zweli Mohobeleli confirmed the arrests and provided details of the allegations.
“It is alleged that more than 10 residents of Ladybrand invested a combined amount of R905 000 through a company called MTS General Trading, which was operated by the two accused. Investors were promised a 30 percent monthly return on their investments but raised alarm when payouts were not received,” Mohobeleli said.
The Hawks have called on additional victims to come forward with information.
“Anyone who believes they may have fallen victim to this scheme is urged to contact Detective Constable Lineo Ralejalla on 082 799 1000,” added Mohobeleli.
The case is expected to return to court once further investigations are concluded. – Staff Reporter