R10 Million Gold Bust in Joburg: Trio Faces Serious Criminal Charges

A father, his son, and their associate were arrested in a high-stakes bust involving illegal gold trading worth over R10 million. The suspects appeared in the Johannesburg Magistrate’s Court on Wednesday, 10 April, facing serious charges linked to the illicit possession and trade of precious metals.

The arrests took place during a joint law enforcement operation at Crownwood Office Park in Johannesburg on Monday. The three men – Zaid Jacob (22), his father Shaheen Jacob (62), and Muhammed Raees (24) – were allegedly running an unlicensed gold dealership from the office premises.

Millions in Gold, Platinum and Cash Seized

According to the Hawks, who led the operation, officers intercepted two suspects driving separate vehicles. One was reportedly found with R100,000 in cash, the other with R70,000 – believed to be proceeds from illegal gold sales.

A subsequent search of the Crownwood Office Park office uncovered gold and platinum ingots worth around R5 million. Officers also found more than R5 million in cash stashed at the site. Additional raids at Meyersdal Eco Estate and Theta Office yielded further evidence, including weighing scales, safes, and calculators used in processing the metals.

Expired Permits and Unlicensed Trade

Preliminary investigations revealed that the group had been operating without valid permits. Authorities believe the expired documentation indicates ongoing illegal activity in violation of the Precious Metals Act and second-hand goods legislation.

Spokesperson Lieutenant-Colonel Lloyd Ramovha said: “These suspects were not only in possession of unwrought precious metals but also engaged in unregulated trade. The arrests mark a significant breakthrough in tackling criminal operations within this sector.”

Court Appearance and Bail Opposition

The suspects made a brief court appearance where the case was added to the court roll. The state opposed bail due to the severity of the charges and the large amounts of money and precious metals involved.

The bail application hearing has been set for Friday, 11 April. All three accused remain in custody until then.

Hawks Crack Down on Illegal Precious Metals Trade

The arrest forms part of the Hawks’ broader clampdown on illegal mining and unregulated trading networks. The Department of Mineral Resources and Energy welcomed the bust, saying it highlights the importance of compliance in South Africa’s mining and trading sectors.

With the possibility of more arrests, the investigation is expected to focus on uncovering any links to a wider criminal syndicate. Public attention has also intensified, particularly due to the family connection and the scale of the operation.

If convicted, the suspects could face lengthy prison terms, heavy fines, and asset forfeiture under South African law.