South Africa: Suspect Held for Suspected Ponzi Scheme

press release

The Johannesburg Specialized Commercial Crimes Court had on Monday, 19 June 2017 denied Ntokozo Myles Ndlovu bail on his R5 million fraud investment scam allegations.

Ndlovu (34) was running an investment scheme between 2010 and 2017 through the DMD Capital PTY LTD and Profit Trading; the licenses thereof were since revoked and withdrawn by the Financial Services Board.

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