Acting Provincial Head of the Directorate for Priority Crime Investigation (Hawks) Brigadier Paulus Mbongo would like to warn the public about putting their hard-earned money in fake investment scams. This comes after a Koppies farmer lost over R2,8 million.
The victim alleges that, between September 2023 and December 2023, he gave money in instalments to Franscois Du Preez (30) of Kroonstad after the latter had approached him with promises that he could make large sums in interests. Du Preez, who falsely presented himself as a financial advisor, lured the victim to what he said was a lucrative investment opportunity to trade in gold in the United States of America. However, months passed without any sign of returns on his investment.
When Serious Commercial Crime Investigation detectives in Welkom learned about this, they collected evidence and approached the court. On Wednesday, 26 March 2025, Franscois Du Preez was arrested on a warrant and immediately secured before the Heilbron Magistrates Court. He will be back in the same court on 28 March 2025 facing charges of fraud, money laundering, and contravention of the Financial Advisory and Intermediary Services Act 37 of 2002.
“It is advisable to use entities and individuals licensed by the Financial Sector Conduct Authority (FSCA),” said Brig Mbongo.