Black dollar scam: Two arrests
2007-08-16 21:09
Durban - Police have arrested two foreign nationals on Thursday for fraud, after they allegedly duped "investors" into parting with their money by changing R100 notes into $100 bills.
Police spokesperson Henry Budhram said the two men - one from Sierra Leone and the other from Liberia - approached their potential victims in central Pietermaritzburg with the assurance that they could double their money, and even treble it, by "investing" with them.
To convince the "investor", they would pour a chemical over the R100 note, which then appeared to turn into a $100 bill.
Budhram said: "This is done very quickly to mesmerise the victim, who becomes convinced that this is possible. He subsequently invests larger amounts of notes and in the process loses them to these foreign nationals."
The two men are alleged to have disappeared with the "invested" cash, leaving the victim with counterfeit dollars.
Budhram said that investigations had revealed hat victims had lost thousands of rands, but police believe that many more people have been caught in the scam.
He urged anyone caught by the two men to contact the police.
- SAPA