Teacher loses R1.27 million in ancestral investment scheme, suspect arrested
A 39-year-old man accused of a decade-old ‘ancestral’ investment scam that allegedly defrauded a teacher of more than R1.27 million was recently arrested.
William Matyuba was arrested on February 5 at OR Tambo International Airport in Gauteng after evading police for many years.
Hawks spokesperson Lieutenant Colonel Avele Fumba said Matyuba allegedly convinced the victim that her ancestors were instructing her to resign from her job and invest her pension payout.
He allegedly promised extraordinary financial returns.
Acting on this advice, the victim transferred substantial sums of money to the accused, who allegedly misappropriated the funds and absconded.
“After years on the run, Matyuba was arrested on February 5, 2026, at OR Tambo International Airport while entering South Africa.”
Matyuba initially appeared in the Kempton Park Magistrate’s Court before the matter was transferred to the Zwelitsha Magistrate’s Court, where he appeared on February 13.
His bail application is scheduled to be heard on February 26.
The Provincial Head of the Hawks in the Eastern Cape, Major General Mboiki Obed Ngwenya, said the arrest should serve as a warning to fraudsters, adding that law enforcement would not tolerate schemes that exploit and deceive citizens.
IOL News