The couple linked to a get-rich-quick investment scheme, through which Ladybrand residents were allegedly swindled out of R600 000 combined, is remanded in custody. The pair, Albert David Titus and Bonolo Millicent Titus, briefly appeared in the Ladybrand Magistrate’s Court after they voluntarily handed themselves over to the Ladybrand police on Tuesday (20/09).
Capt. Christopher Singo, provincial spokesperson for the Hawks, said the couple is set to reappear in court on 28 September to apply for bail. The pair handed themselves over after widespread reports that the Free State Hawks Serious Commercial Investigation unit was searching for them in connection with a fraudulent investment scheme. According to Singo, about 60 people have come forth and stated they invested different amounts of money in the get-rich-quick scheme which was apparently in the couple’s name. He said the highest amount invested was roughly R100 000 by a single person.
It is alleged that in 2020, the victims invested their money in the scheme with a promise of getting interest return after 30 days. However, they did not receive their money as promised and the suspects were no longer available at their establishment in Ladybrand. The matter was reported to the Hawks for further investigation.
