Two more people arrested in R30m cryptocurrency investment scam

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The Hawks arrested two more people in connection with a cryptocurrency investment scam.
The Hawks arrested two more people in connection with a cryptocurrency investment scam.
PHOTO: Tiro Ramatlhatse/Gallo Images, Sowetan
  • Two people have been arrested in connection with a cryptocurrency investment scam.
  • The victim lost more than R30 million in the scam.
  • The arrests bring the number of accused in the case to three.

Two people have been arrested in connection with a cryptocurrency investment scam in which a victim allegedly lost more than R30 million.

Zain Muhammed Valle, 57, and Michelle Bianca Bezuidenhout, 25, appeared in the Lenasia Regional Court in Johannesburg on Tuesday. They joined Bezuidenhout's husband and co-accused, Jarrod de Lange, 32, in the dock. Lenasia police arrested De Lange in 2020.

READ | Father and son arrested for R99 debit order scam that raked in R18 million

Valle and Bezuidenhout have been charged with fraud and money laundering following their arrest by the Hawks at their residences in Lenasia and Alberton.

"Their arrest emanated from an alleged cryptocurrency establishment scam in which the complainant was lured to invest in Siyakhula Logistics Pty (Ltd) in February 2020, with potential lucrative dividends," said Hawks spokesperson Captain Ndivhuwo Mulamu.

Mulamu added:

The complainant allegedly transferred approximately R34 million into the establishment and Bezuidenhout's bank accounts on different transactions.

Valle allegedly introduced the complainant to De Lange as a business acquaintance. The complainant agreed to enter into a partnership in the cryptocurrency business "but the money was used for Liverage Trading company without the complainant's consent", said Mulamu.

Valle and Bezuidenhout were granted R10 000 bail each. De Lange was released on R20 000 bail.

The case was postponed to 19 July for legal representations.


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