Father, son and accomplice arrested for alleged precious metal trading involving over R10m

In a crackdown on illegal precious metal trading, authorities have apprehended three individuals, including a father and son, who were allegedly found with gold, platinum and cash valued at over R10 million.

The arrests occurred during a coordinated operation on 7 April.

R170k from suspected precious metal sales seized

The suspects had in their possession illegal precious metal and cash valued at R10.2 million.

Johannesburg Hawks’ Serious Organised Crime Investigation team spearheaded the joint operation with support from Benoni SA Police Service and the Johannesburg Metro Police Department K9 Unit.

According to police spokesperson Lieutenant-Colonel Lloyd Ramovha, the suspects were intercepted at Crownwood Office Park, where authorities discovered an unlicensed gold dealership. Its permits had expired.

“This operation represents a major breakthrough against illicit trading in precious metals,” said Ramovha on Wednesday.

He added that the department reported that two suspects were initially apprehended in their vehicles, with one carrying R100 000 in cash and the other R70 000, believed to be proceeds of illegal gold sales.

A subsequent search of the premises uncovered gold and platinum ingots valued at approximately R5 million, along with additional cash exceeding R5 million.

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Additional evidence uncovered

Ramovha said the investigation extended to Meyersdal Eco Estate and Theta Office, where authorities found further evidence including scales, calculators and safes.

The three accused, 22-year-old Zaid Jacob, 62-year-old Shaheen Jacob and 24-year-old Muhammed Raees, face serious charges related to the illegal possession and trading of gold and second-hand jewellery without valid permits.

The case has been registered at Booysens police station.

The accused made their initial court appearance in the local magistrate’s court on Wednesday.

Court proceedings were adjourned until 11 April, when the suspects will apply for bail in the Johannesburg Magistrate’s Court.

“The case highlights ongoing efforts to dismantle illegal mining and smuggling operations that continue to plague the precious metals industry,” said Ramovha.

Meanwhile, Brigadier Phumeza Klaas, acting provincial head of the Hawks in Gauteng, also commended the team for their work.

“The Hawks remain steadfast in their mission to dismantle illegal mining and smuggling networks,” said Klaas, adding that “criminals must understand that no one is beyond the reach of the law”.

“We will continue to use every available resource to combat these unlawful activities that exploit our country’s precious metals for personal gain,” Klaas said. 

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