The 52-year-old man was arrested by the Hawks’ Serious Commercial Crime Unit at a private clinic in Cape Town on Wednesday.

“It is alleged that between 2004 and 2014 the suspect duped unsuspecting victims, most of whom were specialists within the medical field in the Western Cape, into investing large sums of money using his entity under the guise that their investments would yield huge returns, but he apparently used the funds for personal gain instead,” said Hawks spokesman Lloyd Ramovha said on Thursday.

The suspect faces fraud charges and will make a court appearance on Friday.