Profit Trading MD arrested

The founder and MD of alleged Ponzi Scheme Profit Trading has been arrested. Spokesperson for the Directorate For Priority Crime Investigation, Brigadier Hangwani Mulaudzi, has confirmed to Moneyweb that Ndlovu was taken in to the Sandton Police Station on Thursday evening.

The arrest was the result of action by a group of investors who had apprehended Ndlovu at a hotel. When he was unable to offer any explanations as to what had happened to their money, they refused to let him leave until the police came to question him.

Moneyweb understands that Hawks investigator, Captain Z B Sithole, who is handling the case, arrived and asked Ndlovu to explain transactions that had taken place in his company’s accounts. When he was unable to provide answers Ndlovu was taken to the Sandton Police Station.

One of the investors who was instrumental in finding and accosting Ndlovu told Moneyweb that he had been willing to do whatever it took to find Ndlovu and see that he was held accountable.