BETHAL – Police arrested three men for fraud on Wednesday, 3 October.
This came after the police spotted a suspect distributing pamphlets about an investment scheme in the area.
The police then requested the suspect to take them to the office from where they were operating and on arrival, they found two men at the premises.
When asked about the trading certificate, one of the suspects produced a copy of the certificate which was proven to be fake.
The suspects were then arrested for trading as financial institution without a license.
According to Bethal Police spokesman, Const Thomas Mogadime, this is the second pyramid scheme to operate in Bethal.
“The first was City Financials Trading which operated from August last year. The company left with thousands of rands invested by investors.
“This August a new investment company called Crypto Ampire began operating and the police managed to recover the current invested money.
“As we are approaching the festive season, the police urged the community not to fall prey of pyramid schemes hoping to double their payouts from their investments.”
The three suspects appear in Bethal Magistrate’s Court.
