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The Johannesburg Specialised Commercial Crimes Court has denied bail to four accused who are facing fraud charges after they allegedly scammed victims of US$750 000 worth of gold.
According to Captain Ndivhuwo Mulamu spokesperson for the Hawks, the suspects, aged 29, 28, 33 and 37 were remanded in custody on 24 April and they are expected to appear on 5 May for a formal bail application.
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The quartet was arrested by the Hawks Serious Commercial Crimes unit, which is based in Parktown, following a sting operation.
The suspects allegedly failed to deliver as agreed. To divert attention, one suspect offered to deliver 1 000kg more worth of gold at a price of US$2.2 million. “A decision was taken to apprehend the four suspects as they were about to conclude the second transaction,” explained Mulamu.
Further investigations have linked the accused to another fraud case involving a copper deal, which allegedly happened in March this year.