June 15, 2024

Luxurious properties were part of the confiscation. (Supplied/NPA)

The Gauteng High Court in Johannesburg granted a restraint order on Tuesday, resulting in the seizure of game farms, extravagant vacation homes, cars, and other assets linked to what seems to be a Ponzi scheme. With a combined value of over R59 million, these assets are largely owned by the accused individuals – Kelvin Cholwich, Theunis Schoeman, and Johan de Clerk. The trio are currently standing trial for fraud at the Johannesburg Specialised Commercial Crimes Court.

Follow this link to read about another incident | [BHI Ponzi scheme: Craig Warriner sentenced to 25 years in jail](https://news24.com)

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### Frequently Asked Questions
#### What is a Ponzi scheme?
A Ponzi scheme is a fraudulent investing scam that promises high rates of return with little risk to investors. The scheme generates returns for early investors by acquiring new investors.

#### How were the assets sized in the Gauteng Ponzi scheme?
The seizure of assets was enabled by the Gauteng High Court in Johannesburg, which granted a restraint order. This led to the confiscation of game farms, luxury vacation homes, cars, and other assets associated with the alleged scheme.

#### Who are the accused individuals in this case?
The accused are Kelvin Cholwich, Theunis Schoeman, and Johan de Clerk. They are currently undergoing trial for fraud at the Johannesburg Specialised Commercial Crimes Court.