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Thursday, October 1, 2020
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    Ponzi Scheme Operator appeard in court

    120 victims complained about an apparent bogus investment scheme involving more than R100 million.

    Jaco Leon Jordaan (52), an alleged Ponzi Scheme operator appeared before the Secunda District Court on 15 November 2018 following his initial arrest in February 2018 after about 120 victims complained about an apparent bogus investment scheme involving more than R100 million. The case is postponed to 15 March 2019 for disclosure of documents.
    The Directorate for Priority Crime Investigation Serious Commercial Crime Investigation Unit in Mpumalanga took charge of the investigations in March 2018. Jordaan who had been out on R50 000.00 bail was previously arrested and linked with a similar case in Sandton near Johannesburg. The accused was released on bail and the case postponed to 30 November 2018 in Wynberg Magistrate Court for the transfers of the docket to Secunda District Court for centralisation of the case.

    Ponzi Scheme Operator appeard in court