The Asset Forfeiture Unit (AFU) announced on Tuesday that it had, based on evidence from the National Consumer Commission and Financial Intelligence Centre, frozen the accounts and was investigating a Covid-19 pyramid scheme called Up Money grocery club owned by Jude Matsimela and Sipho Mdhuli.

An investigation into how South Africa’s wealthy hide illicit financial gains.

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A well-known businessman from Mossel Bay, who has allegedly been running from the law for approximately the last 14 years, was arrested by members of the Mossel Bay police and an independent financial crimes investigation company, IRS Forensic Investigations, at his home in Muller Street last night.

Convicted fraudster Sugan Deon Naicker has successfully managed to con hundreds of individuals over more than a decade of their hard-earned savings and now he has been discovered running new fraudulent operations in Queensburgh, south of Durban.

Originally from Indian Spice.

An urgent application will be filed in the High Court in Port Elizabeth this week against Willie Breedt, the defunct CEO and owner of the cryptocurrency scheme, VaultAge Solution (VS).

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Gangs in the Western Cape are opening security companies as a front to get firearms, warns a criminologist.

This article highlights the work being done by Private Security Industry Regulatory Authority in clamping down on rogue security providers, with comment by Chad Thomas from IRS.

A man accused of stealing millions from Bitcoin investors appears to have made a run for it.
Investors who were contacted by News24 said they have not heard from the CEO of VaultAge Solutions (VS), Willie Breedt, since December when he promised to pay back their money.

Chief executive Chad Thomas says the majority of complaints are of none supply of goods that have already been paid for.
With the demand for personal protective equipment (PPE) increases, several scams have emerged.
Chief executive of IRS Forensic Investigations Chad Thomas says they have been approached by several companies asking for help to find criminals who run off with their money.
Speaking to Joanne Joseph, Thomas says with the lockdown regulations, clients could not travel to go inspect the goods.

As the country went into Covid-19 coronavirus lockdown in March and the demand for personal protective equipment (PPE) increased, several scams emerged, targeting companies and government departments in need of surgical masks, sanitisers and gloves.

Article in City Press about PPE fraud and associated investigation by IRS into criminal syndicates.

Stellenbosch police are seeking the assistance of women who have been defrauded by a man with the name of Rudi Brits.
It is alleged that Brits befriended wealthy women on a social media platform which led to romantic relationships. After moving in with the victims, he would borrow substantial amounts of money from them and disappear with the money and expensive household goods.

Section 417 report makes stark findings against business rescue practitioner Hans Klopper and corporate lawyer Connie Myburgh.

IRS Comment on Liquidations.

A Charl Pretorius might have information that would resolve the matter.
Police and forensic investigators are looking for a man who may have information about the alleged theft of a vehicle in a three-year cold case.

Article in The Citizen regarding IRS hunt for suspect.

Silver-tongued alleged fraudster Catharina Robberts - who is at the centre of six separate criminal investigations for fraud and theft - has another 12 million problems on her hands.

Umlazi-born fugitive Dennis Jali - hunted down by authorities in SA and in the US for allegedly defrauding investors in a get-rich-quick scheme - finds himself squarely in the crosshairs of the law.

Technology could soon be a powerful tool in the fight against corruption.

Shanice Naidoo about technology-based crime.
Comment from IRS as to the laws that help prevent, detect and fight these types of crimes.

Durban - A FOREX trader spent his birthday behind bars last week, after allegedly wining and dining his friends at a high-end Durban nightclub and then being unable to pay the R36000 bill.Durban - A FOREX trader spent his birthday behind bars last week, after allegedly wining and dining his friends at a high-end Durban nightclub and then being unable to pay the R36000 bill.Khanya Dlodlongwana, 20, who allegedly told his waiter he “left his bank card at home” when it was time to pay his bill, appeared at the Point Road Magistrate’s Court on Monday.

'Undercover Billionaires' scheme unravels, but son still offers instant wealth.
Being arrested and out on bail has seemingly done little to break the speed of alleged forex and crypto-currency pyramid scheme mastermind Kgopotso Louis Junior Tshakoane.

Article in Sunday Times about joint Hawks/IRS investigation into "Undercover Billionaires" with Hawks spokesperson confirming IRS involvement in the investigation case and thanking IRS for being "extremely helpful"!

Despite the SAPS’ refusal to identify the man killed in Bryanston on last week, known private investigator Chad Thomas said the deceased was the same man who had survived a shooting in Bedfordview in 2017.

Unregistered rental agency shuts down after more than R1m in trust fund money vanishes.
The Hawks are investigating the affairs of an unregistered Johannesburg estate agency that went bust after more than R1m in funds disappeared from trust accounts.

Article in The Times about IRS investigation into alleged theft of over R1 million of money held in trust by estate agent.

Orignally from TimesLIVE

Africa’s Most Successful Trader’ and ‘international bestselling author’ Jacques Magliolo is being accused of fraud and running a Ponzi scheme.

Jacques Magliolo was a person of interest in an IRS investigation when he was part of the establishment of a "peer-to-peer" funding scheme known as "2FundU" through "Business Consultants International" with Andy Anderson, Paul Zeitsman and Otto van Tonder.