Man Arrested For Defrauding Investors Of R2 Million In Fake Forex Scheme

A 30-year-old man, Ruan Maritz, has been arrested by the Hawks for allegedly defrauding investors of R2 million through a fake forex trading scheme that promised lucrative returns.

Maritz was arrested on March 25 in Hartswater, Northern Cape, after he was accused of operating under the guise of a legitimate broker for Quick Trade Investment and Forex Trading.

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Fraudulent Investment Scheme Promised High Returns

According to Lieutenant Colonel Tebogo Thebe, spokesperson for the Directorate for Priority Crime Investigation (Hawks), Maritz lured multiple victims across the province by promising high returns on their investments.

He allegedly claimed that clients who invested 50% would have the same amount matched by the broker.

However, Maritz never honored these promises, leading to financial losses totaling R2 million for the victims.

Thebe explained that the scheme was designed to appear legitimate, with Maritz operating as a trusted broker for Quick Trade Investment and Forex Trading.

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Victims were convinced to invest large sums of money, expecting returns that never materialized.

As a result, the defrauded individuals suffered significant financial setbacks, with the total amount of money lost being R2 million.

Maritz Granted Bail And Case Postponed

Maritz made a brief appearance before the Hartswater Magistrate’s Court on March 26, where he was granted bail of R50,000.

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The case has been postponed to May 12, and investigations are ongoing.

Authorities are urging any additional victims of the scam to come forward and assist with the investigation.

Maritz’s arrest follows a similar case in Durban, where Mfundo Manci, 33, was sentenced to 10 years in prison for defrauding investors through a cryptocurrency scheme.

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