Ponzi master minds arrested

2017-07-27 06:00

A couple behind a R278m Ponzi scheme has been convicted for fraud, the Hawks said on Monday.

Graeme Minne, 54, and his wife Carolina Frederika Minne, 52, are expected to be sentenced on September 21 after they were convicted at the Thembalethu Regional Court last Tuesday for fraud related to running the multi-million scheme.

Captain Lloyd Ramovha said the couple duped unsuspecting victims into investing funds ranging from a minimum of R100 000, with promises of higher than usual returns on Forex trading between September 2002 and November 2009.

“The Hawks’ serious commercial crime unit’s relentless investigations put a stop to the duo’s lavish lifestyle and arrested them in 2009 culminating in this conviction. They remain out on R50 000 bail each.-News24

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