‘Scam artist’ on the run

The noose is tightening around Cheslyn Swartz, who allegedly sold dreams of riches that have seen many people lose their life savings.

The Hawks have issued a warrant of arrest for his capture. Swartz reportedly specialised in an advance fee investment scam where money must be paid in advance to release a larger amount of cash or a substantial financial reward.

ALSO READ: Justice minister: ‘We’re not anti-Semitic’ – but board adds up 139 incidents

He is a suspect in several cases

Swartz would allegedly sell non-existent financial investments. He is a suspect in several cases throughout South Africa relating to the scam.

Investigator Chad Thomas of IRS Forensic Investigations said: “He allegedly took money from people looking for investors to raise so-called ‘financial instruments’.”

Thomas has worked with authorities to unpick the scam. “People are promised huge amounts of money which never materialise and to further the alleged advance fee fraud, Swartz allegedly provided fabricated and manipulated banking documents and sent out voice notes to victims promising payouts.”

Swartz is allegedly linked to the “Teflon Don”, Kobus Boshoff, who has been the focus of at least 30 criminal investigations spanning the last 30 years.

In 2008, Boshoff was accused of swindling about 12 people out of about R41 million when he allegedly used a network of front companies and non-existent black economic empowerment deals, identity theft and fake bank guarantees of huge loans to scam victims.

Swartz’s voice notes to investors, heard by The Citizen, are a succession of pre-recorded updates designed to keep them placated and keep them believing in him.

In the messages, Swartz drones on about investments, bank errors, money transfers and hurdles, which are designed to pull the wool over investors’ eyes. The Citizen has also seen forged bank statements, one of which reflects a balance of €1 billion (about R20 billion).

There are also pages of false deposit slips, bank letters and other papers he allegedly used as “evidence”.

The scam has been going on for more than a decade

According to a person close to the Hawks probe, the scam has been going on for more than a decade with some victims falling for it more than once.

“He is (allegedly) an exceptional liar, smooth as they come,” said the person.

To date, no one has received any of the promised investments, and the money paid by the victims have allegedly not been used for the intended purposes.

Thomas regularly investigates financial and organised crimes. He said the link between Boshoff and Swartz became apparent when he investigated another of their alleged advance fee schemes.

“They have (allegedly) been running a slick advance fee scheme for years,” he said.

NOW READ: Mandela family could go to court to get Zoleka’s body exhumed – report