Alleged pyramid scheme kingpin nabbed in Limpopo

2019-05-30 16:37
(Nielen de Klerk, News24)

(Nielen de Klerk, News24)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

A man who was wanted since 2011 for allegedly operating a pyramid scheme has finally been arrested.

Moreke Lucky Mayane, 45, was arrested in Limpopo on Wednesday after the Mpumalanga Hawks' Serious Commercial Crime Investigation unit and its Limpopo counterpart joined forces to track him down.

Police spokesperson Captain Dineo Lucy Sekgotodi said investigations revealed that Mayane operated the scheme, dubbed "Weekly Cash Flow", between the two provinces from 2011 in Embalenhle.

"He apparently continued with his scheming ways in Limpopo's villages of Nebo and Burgersfort as well as in Lyttleton in Gauteng during 2013. Further investigation revealed that Mayane's entity was not registered with the Financial Sector Conduct Authority (FSCA).

"A warrant for his arrest was subsequently authorised after he disappeared when he learned that cases of fraud and forgery were opened against him at several police stations," said Sekgotodi.

Mayane is expected to appear in two courts - the Nebo Magistrate's Court and Burgersfort Magistrate's Court - before facing similar charges in Mpumalanga and Gauteng next week. 

Members of the public who might have fallen victim to the alleged scheme are urged to contact police in Mpumalanga or Limpopo.

KEEP UPDATED on the latest news by subscribing to our FREE newsletter.

- FOLLOW News24 on Twitter

Read more on:    polokwane  |  crime
NEXT ON NEWS24X

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

Inside News24

 
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.