Hawks Arrest Nigerian National In R20 Million Fraud Scheme

The Hawks’ Serious Commercial Crime Unit has arrested a 55-year-old Nigerian national, Nwachimere Collins Ofoegbu, on charges of fraud, theft, and violating the

Ofoegbu’s arrest marks a breakthrough in an investigation that started in November 2022, when a wealthy businessman reported being defrauded in an elaborate investment scam.

How the Scam Unfolded

According to Hawks spokesperson, Lieutenant Colonel Lloyd Ramovha, the fraudulent scheme dates back to 2018 and involved scammers impersonating high-ranking CEOs from major banks and even officials from the South African Reserve Bank.

Through enticing emails and in-person meetings held in South Africa, the United Arab Emirates, and London, the fraudsters convinced the businessman to invest large sums of US dollars into a scheme promising high returns.

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Funds were transferred to various accounts, including those at First National Bank (FNB), the Bank of China, and institutions in London.

By 2020, when the businessman attempted to withdraw his supposed interest, he was met with evasions. A forensic investigation later uncovered that he had lost over R20 million to the scheme.

Arrest and Asset Seizure

Following a thorough investigation, the Randburg Magistrate’s Court authorised arrest warrants for two suspects on January 28, 2025.

On Monday, February 10, 2025, Sandton Visible Policing members arrested Ofoegbu, linking him to at least R1.2 million received from the victim.

Police have also seized two luxury properties at Waterfall Estate and Waterfall Village, believed to be proceeds of crime.

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Ofoegbu appeared in the Randburg Magistrate’s Court on Tuesday, where his case was transferred to Wynberg Magistrate’s Court. He has been remanded in custody and will return for a formal bail application on February 18.

Authorities are now intensifying efforts to track down the second suspect, who remains at large. “The team is actively pursuing the second suspect,” Ramovha confirmed.

Investigations into the full extent of the scam are ongoing.

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