Overview

• Banks flagged suspicious flows and the National Consumer Commission referred the case to the NPA’s Asset Forfeiture Unit on 4 February 2025.
• A preservation order followed a week later through work with the Financial Intelligence Centre.
• Fraudsters paid people about R200 for personal details and ID photos used to open accounts in their names.
• The accounts spanned 24 banks and funneled deposits into “multiplication” schemes branded Trouva, Centamin, Hot Farm and Benchmark Woodworking.
• Investigators describe Ponzi- and pyramid-style tactics, and urge affected investors to open criminal cases as asset-recovery efforts continue.