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Two men appeared in the Butterworth magistrates court on Monday on charges of fraud involving millions of rands.
Their case was postponed to the 29th of April for a formal bail application.
They are 34-year-old Kwazi Joshua Mpumlwana, who is a director/ owner of an investment scheme, and 32-year-old Zimbabwean national Phanuel Tashaya Kadye, who is a portfolio manager.
Police Captain Jackson Manatha says the men were arrested in Johannesburg last week by members of the Mthatha commercial Crime unit.
They allegedly started a fake investment scheme in 2007 and defrauded hundreds of people who invested money.
The victims include pensioners, civil servants and business people across South Africa.
