Cape Town Police Crack Down on Crypto Fraud, Seize Luxury Cars and Arrest Drivers

The Mayor of Cape Town, Geordin Hill-Lewis, participated in a nighttime operation by the city police targeting individuals who claim to be cryptocurrency and forex traders while driving luxury cars with fake or no license plates. During the operation, police seized a silver Mercedes-AMG GLE valued at over $153,000, which was falsely registered as a white BMW, and arrested a driver of an unregistered BMW 3-Series. Local officials stated that fraudulent crypto gangs use TikTok to showcase assets and attract victims into fake investments through luxury cars. A report released in March indicated that international crime groups operate corporate scam centers in Cape Town and Johannesburg, employing deepfakes, cloned apps, and fake investment platforms to carry out fraud, with related illicit funds being laundered through cryptocurrency wallets, money mules, and unregistered high-end vehicles.