Art Viljoen was the alleged mastermind behind a slick Ponzi and money laundering syndicate in Johannesburg

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Art Viljoen, pictured, was the alleged mastermind behind a slick Ponzi and money laundering syndicate operating out of Johannesburg before and during the Covid pandemic.

Viljoen, with the help of his enablers, defrauded victims of tens of millions of rands which Viljoen spent on super cars, an array of rare and valuable watches, and gold and diamond jewellery paid for in cash from a top Sandton jeweller.

When some of his investors got wind that Viljoen was running a Ponzi, they allegedly kidnapped Viljoen and took possesssion of his jewellery, watches and vehicles.

The manner in which this was done can never be condoned as it was unlawful and to the detriment of most of the other investors. People need to understand that they cannot break the law to try enforce their rights.

Although some super cars were free owned, certain of the vehicles taken by the irate investors had become encumbered with the banks and therefore belong to the banks, which means that these people are not in legal possession of those vehicles which are encumbered.

Viljoen skipped South Africa shortly after falling foul of his investors, and shortly after he was released by his alleged captors.

IRS is seeking any further information pertaining to the whereabouts and activities of Viljoen. In order to ensure fairness in terms of restitution for all the victims, IRS is set to work with the AFU to identify all moveable assets and the whereabouts of these assets, and to obtain a restraint over those assets.

IRS has opened a criminal case in regards to Viljoen’s activities and the case has been escalated to the Hawks.

Contact IRS during office hours on 0861 911 IRS or WhatsApp 0794442666 or email investigations@irsa.co.za

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