Teboho Setena
The number of people who reportedly lost significant amounts of money in the get-rich-quick scheme allegedly operated by the fraud-accused Muzi Belman Mathaba (49), stands at 404.
The Bloemfontein Hawks’ Serious Commercial Crime Investigation unit is probing the case, which dates back to 2015.
According to WO Fikiswa Matoti, provincial spokesperson for the Hawks, the victims’ losses amount to more than R5,5 million combined.
She said after the victims did not get any returns on the money they had invested, they came forward with information, leading to the registration of the case docket and launch of an investigation.
Mathaba, who had been released but later failed to attend court hearings, was sentenced to a fine of R2 000 for contempt of court in March.
This was due to failure to comply with orders to appear before the court regarding alleged fraud he committed in 2015.
He reportedly hired people to work for him, and others as sales personnel, advertising his investment scheme company and handing out flyers to members of the public.
That gained Mathaba his investors, who deposited money into his company bank account. He promised these investors 100% dividend returns to pay off after 14 days. Nothing was paid to any of the investors.
It was also discovered that Mathaba presented a fraudulent investment scheme company to the investors. As a result, they lost an undisclosed amount of money, said Matoti.
She said the fraud-accused Mathaba is set to reappear in the Bloemfontein Magistrates’ Court on 28 July, following the postponement of the matter for further investigation.
