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How do crypto traders get their hands on luxury cars worth millions?

How do crypto traders get their hands on luxury cars worth millions?

Authorities seized several luxury vehicles during an operation in Parklands this month, including a Mercedes Benz GLE worth more than R2 million that was allegedly registered as a different vehicle.

The video of the clampdown featuring Cape Town Mayor Geordin Hill-Lewis has led many to question, how do some people get behind the wheel of cars worth millions of rand?

In a post of the video on his Facebook page, the mayor said that “crypto” and “forex” traders are driving ‘fancy cars with fake registrations or none at all’.

So what are the legal checks that must be carried out before a dealership can sell cars of this value, asks Lester…

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