JOHANNESBURG – The Hawks’ Serious Commercial Crime Unit has arrested a 55-year-old Nigerian national, Nwachimere Collins Ofoegbu, on charges of fraud, theft, and violating the Prevention of Organised Crime Act (POCA). The arrest follows an extensive investigation into a multimillion-rand investment scam.
Authorities linked Ofoegbu to a scheme that defrauded a wealthy businessman of over R20 million. The scam allegedly operated through emails and in-person meetings in South Africa, the United Arab Emirates, and London.
Fraudulent Investment Scheme Uncovered
Hawks spokesperson Lt. Col. Lloyd Ramovha stated that the scheme began in 2018. Fraudsters, posing as high-ranking bank CEOs and South African Reserve Bank officials, lured the victim with promises of high returns on investments.
The businessman transferred large sums in U.S. dollars to various accounts at First National Bank (FNB), the Bank of China, and institutions in London. When he attempted to withdraw his promised interest in 2020, the fraudsters became evasive.
A forensic investigation later revealed the scheme, confirming that the victim had lost over R20 million. Detectives gathered substantial evidence, leading the Randburg Magistrate’s Court to issue arrest warrants for two suspects on January 28, 2025.
Hawks Make Arrest in Sandton
On February 10, 2025, Sandton Visible Policing officers arrested Ofoegbu. Investigators believe his two luxury homes in Waterfall Estate and Waterfall Village were purchased with proceeds of crime.
“Ofoegbu has been linked to a transaction where he received R1.2 million from the victim,” said Ramovha.
Court Appearance and Search for Second Suspect
Ofoegbu appeared before the Randburg Magistrate’s Court on February 11. Authorities transferred the case to the Wynberg Magistrate’s Court, where he remains in custody. A formal bail application is set for February 18.
“The investigation team is actively pursuing the second suspect, who remains at large,” Ramovha added.
The Hawks continue efforts to dismantle organized financial crime networks. Authorities urge anyone with information to contact Crime Stop at 08600 10111 or use the MySAPS mobile app anonymously.
