Alleged investment scammer up for R100 million fraud

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Alleged investment scammer up for R100 million fraud
FILE IMAGE: Mpumalanga Hawks have nabbed a man believed to have scammed unsuspecting investors of millions of rands. PICTURE BY IOL.

Over 100 victims complained to the cops of being tricked into pumping money into the scheme.


An alleged investment scammer appeared before the Secunda Magistrates Court this week, charged with fraud.

52-year-old Jaco Jordaan allegedly operated a ponzi scheme in the area aimed at swindling victims of millions of rands.

He was arrested by the Hawks in February 2018 after about 120 victims complained to cops about an apparent bogus investment scheme involving over R100 million.

Alleged scammer Jaco Jordaan

The case is was postponed to 15 March 2019 for disclosure of documents, spokeswoman Captain Dineo Sekgotodi.

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The Hawks in Mpumalanga took charge of the investigations in March 2018.

Jordaan who had been out on R50 000 bail was previously arrested and linked with a similar case in Santon near Johannesburg.

The Sandton matter was postponed to 30 November 2018 in Wynberg Magistrate Court for the transfers of the docket to the Secunda Magistrates Court for centralisation of the case.

(edited by ZK)

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