Man arrested in CT after discovery of SA & foreign currency in excess of R1m

CAPE TOWN - A 38-year-old foreign national has been arrested following the discovery of a substantial amount of foreign and South African currency in excess of R1 million.

Police said officers, who were deployed in the Parklands area, were given a tip-off about possible drug deals in the area.

After searching the suspect’s premises, police found the cash and a bag with bank cards belonging to various people.

Police spokesperson FC van Wyk said detectives would investigate further and apply any necessary charges as the case unfolds.

"Not only did the members find the cash, but also a bag with bank cards belonging to various people. The occupants of the residence were unable to provide a valid reason for possessing the items, and the 38-year-old suspect was subsequently arrested on suspicion of possession of suspected stolen property and conspiracy to commit cybercrime."

The suspect is expected to appear in the Cape Town Magistrates Court this Thursday.