Man in court for financing terrorism through Bitcoin worth R11,500

A 35-year-old man briefly appeared in the Litchenburg Magistrates Court in the North West where he is facing a charge of terror financing.

Ziyadh Hoorzook, a South African national, was arrested at his Sandton home in Johannesburg on Friday.

Police said his arrest comes after a lengthy and meticulous investigation that started in May 2018 when the Financial Intelligence Centre (FIC) and the Hawks received information about suspicious transactions allegedly linked to terror financing.

Police added that Bitcoin worth R11,500 was purchased by the suspect using his bank account.

It is believed that he bought the Bitcoin through Luno, a virtual asset service provider on November 30, 2017.

"On the same day, (the) Bitcoin was reportedly transferred from the suspect’s Luno wallet to the wallet associated with an organisation, which describes itself as an independent charity," police said in a statement.

Furthermore, it was added that the non-profit organisation was linked to two more organisations.

"A preliminary investigation revealed that the transfer was a response to an advert appealing for financial support for activities with weapons, financial aid, and other projects assisting the participants in another country," said police.

Police said they obtained a search warrant and on October 3, 2024, they conducted a search at Hoorzook's residence in Sandton.

"Several evidential materials have been seized for further investigation.

"During the search, it was also found that two of his licensed firearms were not locked away in a safe as prescribed by law and a relevant case docket was opened," said police.

The matter was postponed to January 10, 2025 for Hoorzook's formal bail application.

sinenhlanhla.masilela@iol.co.za

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