Mom in family shooting tragedy had investment with alleged 'ponzi pastor'

18 January 2017 - 18:56 By Nashira Davids And Philani Nombembe
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The Hawks are preparing to sink their talons into another alleged ponzi pastor in the Western Cape.

Pastor Colin Davids — who allegedly ran a ponzi scheme among his flock — appeared in the Bellville Magistrate’s Court on Wednesday charged with fraud. He will return to the dock in September.

And Hawks spokesman Captain Lloyd Ramovha confirmed a probe into 4th Power Investments‚ headed by Touws River pastor David Cupido‚ to see if the company is a ponzi scheme.

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It has been claimed that the 43-year-old Kraaifontein woman who allegedly killed her eldest son and shot and wounded her 14-year-old twin boys before committing suicide at the weekend had invested money with 4th Power.

Pat Marran‚ spokesman for the 4th Power Investors Organisation‚ confirmed in a statement that the woman had been an investor.

He produced alleged e-mail correspondence between the woman and a Hawks investigator who tried to question her about her dealings with the company. The Times has seen the emails and both contact numbers for the investigator are working.

“In the e-mail that [the mother] addressed to the investigating officer she made it clear that she was satisfied with the services of 4th Power Investments and that she trusted the company to manage her money‚'' said Marran.

The officer then said she had reason to believe the company was a “ponzi or pyramid” scheme.

“I am sitting with the proof and I can assure you that I will not investigate a case when I don’t believe there is merit to investigate‚” the officer wrote.

Marran alleged the officer had been “unsympathetic” to the woman and that the allegations could have contributed to the “tragedy”.

“We trust that the Hawks will cease their shenanigans and that they will realise that they are playing with people’s lives‚” he said.

Davids allegedly lured almost 2‚000 investors to Platinum Forex with promises of 84% returns. He was arrested in June last year by the Hawks‚ and his assets of R138-million were frozen.

Prosecutor Jannie Knipe asked for a nine-month postponement to finalise the investigation.

TMG Digital/The Times

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