South African Police Apprehend Alleged Architect of Innovative Metaverse Ponzi Scheme
In a significant breakthrough, South African law enforcement has successfully apprehended Neil Leon De Waal, the alleged mastermind behind the GS Partners metaverse fraud case. The arrest, which took place in late May, comes after a thorough investigation prompted by the grievance of one of De Waal’s victims. The victim, residing in Benoni, had to resort to the assistance of a private investigator based in Cape Town in order to locate De Waal.
Reports suggest that De Waal had managed to recruit a fresh investor for GS Partners in May 2023, although the exact timeline remains somewhat hazy. Nonetheless, an arrest warrant against De Waal was issued back in December, and he was finally apprehended upon his arrival in South Africa after a flight. While his legal team vehemently maintains his innocence, De Waal has since been released on bail as of June 3.
This successful arrest marks a significant milestone in the ongoing fight against fraudulent activities within the metaverse realm. Authorities are hopeful that the capture of De Waal will bring about valuable insights into the inner workings of GS Partners and serve to protect potential investors from falling victim to similar schemes in the future.