Ziyadh Hoorzook Faces Charges of Terror Financing
Ziyadh Hoorzook, a 35-year-old South African man, appeared in the Lichtenburg Magistrates Court after being arrested on allegations of terror financing.
According to the Hawks, Hoorzook transferred bitcoins worth R11,500 to an organisation that allegedly has terrorist ties in 2017.
### Investigation into Terror Financing Allegations
The investigation began in May 2018 when the Hawks and the Financial Intelligence Centre (FIC) received information about suspicious transactions allegedly linked to terror financing.
It is alleged that Hoorzook bought the bitcoins through Luno, a South African cryptocurrency exchange and wallet provider, after transferring funds from his bank account. The transaction happened on 30 November 2017.
The Hawks said in a statement that the investigation was meticulous and that the transfer of the bitcoins to the suspect’s Luno wallet, followed by the transfer to the wallet associated with the alleged terrorist organisation, was under close examination.
The Hawks also reported that they found two of Hoorzook’s licensed firearms were not locked away in a safe as prescribed by law during the search of his residence in Sandton. The relevant case docket was opened following the search.
Ziyadh Hoorzook appeared before the Magistrates Court on the 10th of January to be charged and has stated he will be pleading not guilty.
