Ponzi scammer, who targeted SA Jewish community, fled to Israel with R60m

An alleged fraudster has avoided the hand of justice and fled from South Africa to Israel after the allegations had been made that he had scammed the local Jewish community.

The self-employed accountant, whose name is now being kept in secret, gathered over R60 million by using infamous ponzi scheme — the unaware residents had literally given him money hoping to benefit from their investments.

According to the police, the list of victims includes at least 50 citizens.

“He presented himself as a God-fearing Jewish man, so we all trusted him to do right by us,” Andrea Colley, one of the swindled contributors, said to the press. “We’ve collectively lost millions. It’s not only our family that have lost millions.”

The case of fraud was opened in northern Johannesburg this week. The police are making every effort to determine the perpetrator’s whereabouts, however, no arrests have been made yet, Captain Mohlaume Mamabolo stated.

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