Johannesburg - An 18-year-old boy was arrested on Sunday after he allegedly hired two men to kill his parents at Standerton, Mpumalanga police said.
The man, 43, and his 37-year-old wife were found dead at their home with several stab wounds in their bodies, said Captain Leonard Hlathi.
He said the men, aged 20 and 22, allegedly killed the couple around 3am on Saturday and fled in the couple's car.
"The car capsized 14km outside Standerton, en route to Johannesburg. The 22-year-old died on the spot and the 20-year-old was taken to hospital in a critical condition."
Hlathi said preliminary investigations have revealed that the motive for the killing was to gain money from the parents' insurance policies.
He said the two were allegedly contracted for R250 000 for the killing and were given R1 000 as deposit and were promised the rest would be paid when the insurance policies paid out.
"The boy was arrested early today. He has been charged with conspiracy to commit murder."
The man in hospital was under police guard.
He would appear at the Standerton Magistrate's on Monday. - Sapa