Cape pastor in court over Ponzi scheme

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 congregants - appeared in the Bellville Magistrate's Court yesterday charged with fraud.

He will return to the dock in September.

Hawks spokesman Captain Lloyd Ramovha also confirmed an investigation into 4th Power Investments, headed by Touws River pastor David Cupido, to see if the company was a pyramid scheme.

• Mom in family shooting tragedy had investment with alleged 'ponzi pastor'The Hawks are preparing to sink their talons into another alleged ponzi pastor in the Western Cape.

It has been claimed that the 43-year-old Kraaifontein woman who 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 Investments.

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

He produced e-mail correspondence between the woman and a Hawks investigator who tried to question her about her dealings with the company.

• Flash pastor in court for 'running Ponzi scam'Cape Town millionaire pastor Colin Davids swapped the pulpit for the dock yesterday to answer to fraud charges for allegedly duping close to 2000 people into investing in a pyramid scheme.

"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 ," 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".

• Hard times for Cape's 'Platinum Ponzi' pastorCape Town's multimillionaire pastor Colin Davids is on his knees again - this time with a begging bowl in hand.

"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 2000 investors to his Platinum Forex plan with promises of 84% returns. The Hawks arrested him in June last year and assets of R138-million were frozen.

Prosecutor Jannie Knipe asked for the postponement so the Hawks could finalise their case.