BY MBONGENI NDLELA
MBABANE – Two local directors linked to the controversial XWin (Proprietary) Limited have been remanded in custody as Eswatini intensifies a sweeping crackdown on illegal online gambling and suspected financial crimes.
Nqobile Mncina and Ntuthuko Fakudze appeared before the court and were remanded until April 10, pending co-joinder with other accused persons believed to be part of a wider, sophisticated gambling syndicate operating within the country.
Massive Cash Seizure Raises Alarm
The arrest follows a police operation in Woodlands, where authorities discovered $593 355.55 (approximately E10.9 million) in cash in the possession of the two directors.
Investigators suspect the funds are proceeds of illicit activities linked to unlicensed online gambling operations and possible cross-border financial crimes.
The accused now face multiple serious charges, including contravening the Money Laundering and Financing of Terrorism (Prevention) Act, two counts under the Gaming Control Act, violating the Trading Licences Order, and breaching the Immigration Act for allegedly employing foreign nationals without proper documentation.
Part of a Larger Criminal Network
The arrests form part of a broader national operation led by the Royal Eswatini Police Service targeting illegal online gambling networks.
Authorities have already arrested over 200 suspects in coordinated operations across different areas, uncovering organised syndicates operating from residential and commercial spaces using advanced digital systems.
Foreign Links and National Security Concerns
Authorities have raised concerns about international connections linked to the case, with investigations pointing to possible cross-border financial flows and foreign involvement.
Economic and Regulatory Implications
Government officials warn that illegal gambling activities could expose Eswatini to financial risks, including potential scrutiny from global financial watchdogs.
The case highlights the importance of strengthening regulatory systems and protecting the country’s financial integrity.
Court Process Continues
The matter is expected to expand as more suspects are joined to the case, with investigations ongoing to trace the origin of the seized funds and dismantle the broader network.
The accused remain in custody as the legal process unfolds.
