State agency worker released from custody
The man who was arrested over a ‘vegetables for export’ scheme that promised investors a 35% monthly profit on their investments was released on Tuesday.
A police source said this was because the 72 hours allowed them by law to detain a person without charge was up. The source said that many persons refused to give statements and this hampered investigators.
This newspaper had earlier reported that at least $150 million was invested by persons into the export scheme. However, a police source had said, many investors, who turned up at the Brickdam police station, refused to give statements to the lawmen as they were hoping that the man would be released and repay their money.
The suspect, who is reportedly attached to a state agency, was taken into custody on Sunday after a report was made. In the case, which has the outlines of a ‘Ponzi scheme’, the South Ruimveldt resident offered a 35% rate of return monthly if persons invested their money into his vegetable export ‘business’. Hundreds of persons invested but were not paid their profit since the year began and the matter was reported.