Platinum, diamonds, cash - global syndicate cracked
2011-09-27 22:29
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Johannesburg - The Hawks arrested members of a platinum syndicate on Tuesday after confiscating platinum concentrate worth R50m, an official said.
"The Hawks raided several locations around Gauteng," said spokesperson McIntosh Polela.
"They arrested an alleged syndicate kingpin in Fairland. Another arrest was made in Brakpan where R125 000 in cash was also found.
"Our members also raided a refinery in Babelegi near Hamanskraal and arrested three people who run the refinery... It's here that we found platinum concentrate valued at R50m. "
At the refinery, 15 uncut diamonds were also found.
Polela said the platinum was stolen from mines and then sent to the refinery, before being exported to Italy, the UK, Switzerland and Canada for more refining.
"Syndicate members have offshore accounts in which their money is paid. We have already traced an account in Panama," said Polela.
- SAPA
