South Africa 2.12.2017 09:56 am

Hawks arrest company directors for alleged investment scheme fraud

Hawks

Hawks

The suspects allegedly conspired and solicited deposits of about R1.2 million from about seven members of the public.

Officers of the Directorate for Priority Crime Investigation (Hawks) serious commercial crime unit in Cape Town have arrested Jacobus van Wyk Stone, 35, and Christo Germishuys, 45, for allegedly taking cash deposits from members of the public in an illegal investment scheme, the Hawks said.

Between August 1, 2010 and February 12, 2012 the two – who were directors of a property development entity called Ceek Investments Pty Ltd – allegedly contravened the Banks Act, Hawks spokesman Captain Lloyd Ramovha said in a statement.

They allegedly conspired and solicited deposits of about R1.2 million from about seven members of the public while the entity was was not registered with the Financial Services Board (FSB) as a cash deposit institution.

“They reportedly told victims/investors that the money would secure them prime stands and further promised them a return of up to 15 percent while they wait for construction to take place. Needless to say, none of these promises ever materialised,” he said.

The accused were arrested on November 24 and have already appeared in the Specialised Commercial Crime Court. The matter had been postponed to January 26, 2018, pending further investigations, Ramovha said.

In an unrelated case, Mogamat Ebrahim McKenzie, 26, appeared in the Kuilsriver Magistrate’s Court on Wednesday following his arrest by members of the Hawks serious commercial crime unit on Monday for vehicle finance fraud totalling just above R1 million.

“It is alleged that McKenzie, who is unemployed, allegedly used a fabricated payslip and other accompanying documents during November 2015 to apply for two vehicles’ finance at a Kuilsriver local car dealer. Wesbank reportedly approved [the loan] and the accused took delivery of the said vehicles and never paid the instalments.

“The team has already recovered a Nissan Almera. A Nissan Navara, which was also circulated as stolen, is yet to be found. McKenzie’s matter has been postponed to January 25, 2018 pending ongoing investigations,” Ramovha said.

– African News Agency

 

today in print