Two South Africans Arrested For Alleged Involvement In Money Laundering Scheme In Lesotho

Two South Africans have been arrested on charges of fraud and money laundering, following an investigation by the Hawks and Lesotho Mounted Police Service.

The charges, amounting to approximately R57m, were brought against Traggulogy, its director Uthando Lorraine Modise, and Marcious Lerato Lisene in the Ficksburg magistrate’s court on Monday.

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According to W/O Fikiswa Matoti, the Hawks in Bloemfontein were approached by their counterparts in Lesotho to trace money that had been defrauded from the Central Bank in 2021.

It was revealed that the crime involved the collaboration of Lesotho officials, who intercepted vouchers intended for legitimate service providers and redirected the payments to their co-conspirators in South Africa. Some of these officials are already facing charges in Lesotho.

With the assistance of the Financial Intelligence Centre, it was discovered that the funds had been channelled to a South African bank through various company accounts. The investigation highlights the importance of international cooperation in combating financial crimes and the need for robust measures to prevent money laundering.

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The accused individuals are scheduled to apply for bail on March 13. The case serves as a reminder that authorities are actively working to uncover and prosecute those involved in illicit financial activities, and that individuals engaging in such activities will be held accountable for their actions.

It is crucial for both individuals and organizations to remain vigilant and ensure compliance with anti-money laundering regulations to protect themselves from becoming unwitting participants in such schemes.