Investigations into Ziyadh Hoorzook’s activities began in 2018 when authorities received information about suspicious transactions.
The case against a 35-year-old South African man accused of funding terrorism through cryptocurrency has been postponed for a formal bail application.
Ziyadh Hoorzook made a brief appearance in the Lichtenburg Magistrate’s Court, in the North West, on Monday.
He has been charged for allegedly contravening the Protection of Constitutional Democracy Against Terrorist and Related Activities (POCDATARA) Act.
Custody
Hawks spokesperson Colonel Philani Nkwalase said Hoorzook will remain in custody until his bail application on Friday.
The Citizen previously reported that Hoorzook was arrested at his home in Johannesburg on Friday afternoon following a lengthy investigation.
“This probe ensued in May 2018 when the Financial Intelligence Centre (FIC) and the Hawks received information about suspicious transactions allegedly linked to terrorism financing,” Nkwalase said.
“Cryptocurrency in the form of Bitcoin worth R11,500 was allegedly purchased, through Luno, a Virtual Asset Service Provider (VASP), via transfer of money from the suspect’s bank account to Luno’s custody account on 30 November 2017.”
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‘Independent charity’
Nkwalase said on the same day, Bitcoin was reportedly transferred from Hoorzook’s Luno wallet to the wallet associated with an organisation, which describes itself as an independent charity.
“He said it is alleged that this non-profit organisation is linked to two other organisations.
“Preliminary investigation revealed that the transfer was a response to the advisement appealing for financial support of the activities with weapons, financial aid and other projects assisting the participants in another country.
“The police obtained a search warrant and on 3 October 2024, conducted a search at the residence of the suspect in Sandton. Several evidential materials have been seized for further investigation,” Nkwalase said.
Nkwalase said during the search, officers 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.
Additional reporting By Enkosi Selane
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