Keabetswe Mokhasi, 44, and her daughter Refilwe Moncho, 22, appeared in the Kuruman Magistrate’s Court on Friday where they faced charges of investment fraud and money laundering after they were arrested on Thursday.
The mother and daughter duo are alleged to have recruited people to join the Namolaleuba Investment scheme in the Kuruman area since June 2020 “They misrepresented themselves to members of the community claiming that Namolaleuba is a registered investment company that gives investors high dividends after every 15 days.
“It is further alleged that the suspects paid some investors to lure more people into their scam. More victims invested their money and lost a combined amount exceeding R3 million,” said Hawks Northern Cape spokesperson Nomthandazo Mnisi.
Mnisi added they would remain in police custody and were due back in court on 5 February.