The fraud trial against alleged get-rich-quick conman Motsamai Samuel Nyamane (48) from Ficksburg is set to continue in the Ficksburg Regional Court on 1 August after it was postponed at a hearing on Friday (15/07).
Nyamane is facing fraud charges following failure to repay a group of 38 people who invested their money in the scheme.
He has been appearing in court following his arrest, in June, by the Hawks’ Serious Commercial Crimes Unit in the Free State in connection with the get-rich-quick scheme called Sea of Mountains.
Capt. Christopher Singo, spokesperson for the Hawks in the province, said investigation revealed that Nyamane had scammed the victims from April to December 2018. The victims opened cases after the suspect had failed to repay them with interest, as promised.
Singo said the victims invested different amounts of cash with a promise of getting a return of 50% interest within 30 days for monies invested.
He said the victims lost more than R600 000 combined.
Nyamane is out on bail of R10 000, with conditions.
