They allegedly enticed members of the public to commit their 'hard-earned money' to a fraudulent scheme.
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Three directors accused of fraud and money laundering, after allegedly running an unlawful investment scheme that promised returns of up to 75% per month, have made their first appearance in court in the Eastern Cape.
Simphiwe Mbuwako (40), who is alleged to have served as Sales Director, Anda Pretty Kinzela (32), the Marketing Director and Sikilela Matikinca (29), the Information Technology Director of Simply Grace Outreach Investments (Pty) Ltd, appeared before the Gqeberha Specialised Commercial Crimes Court on Monday, 24 August 2026.
Arrest
The accused were nabbed by the Gqeberha Serious Commercial Crime Investigation Hawks on the same day as their court appearance, in connection with fraud and money laundering charges.
Between 5 June 2018 and 21 November 2018, the accused allegedly conducted an unlawful investment operation from Gqeberha, enticing members of the public to invest their “hard-earned money” in an enterprise that allegedly promised returns of up to 75% per month.
Scam
Hawks spokesperson Warrant Officer Ndiphiwe Mhlakuvana said it is alleged that the company was neither registered as a Financial Services Provider (FSP) with the Financial Sector Conduct Authority (FSCA) nor authorised to conduct banking business.
“Despite the absence of the requisite regulatory authorisation, the accused ostensibly presented the investment enterprise as a legitimate and viable financial opportunity, making representations calculated to induce members of the public to entrust their money to the company.
“It was further established that 24 investors were allegedly induced to deposit funds into the company’s First National Bank account. Discrepancies were picked up, and the matter was handed over to the Hawks,” Mhlakuvana said.
Financial prejudice
According to the Hawks, it initially appeared to investors as an opportunity for substantial financial growth, but subsequently became the subject of a criminal investigation.
This after it was established that the funds were allegedly not utilised for the investment purposes represented to the victims.
“The total financial prejudice suffered by the identified victims has been quantified at R478 810,” Mhlakuvana said.
“Through intensive investigation, the suspects were arrested, which culminated in a court appearance where they were released on R500 each.”
The matter was thus postponed to 3 September 2026 for legal representation.
