Melville man allegedly scams people out of R40m

File image.

Approximately R40 million was allegedly deposited into Dunn’s bank account by potential shareholders.

The Palm Ridge Specialised Commercial Crimes Court on Monday granted Matthew Charles Dunn bail during his court appearance on allegations of fraud.

The 34-year-old man was arrested at his residence in Melville on Saturday following an investment fraud and theft investigation against him.

It is alleged that Dunn lured complainants to buy shares at Anglo American, Khumba Iron Ore and Wesizwe worth over a R1 million between December 2016 and January 2018, said the South African Police Service (SAPS).

“Further investigation revealed that Dunn did not own shares at the above institutions, however, he allegedly fraudulently created certificates as proof of dividends to his clients,” said the SAPS in a statement.

Approximately R40 million was allegedly deposited into Dunn’s bank account by potential shareholders.

A warrant of arrest was issued last Friday. He was arrested and charged with fraud and theft at his residence in Melville.

He was granted bail and the case was postponed to 18 November for further investigation.

In another incident in August, the Palm Ridge Specialised Commercial Crimes Court granted a couple from Ekurhuleni R100, 000 bail each for allegedly defrauding the South African Revenue Services (Sars) of R53 million.

It is alleged that the divorced couple, 64-year-old Christo Francois Pienaar and 62-year-old Elsie Elizabeth Pienaar, created and submitted false tax invoices to SARS during June 2013 and March 2014.

The accused handed themselves over to the Palm Ridge police, accompanied by their legal representatives.

“Various items which amongst others include documents related to an alleged second hand gold purchasing from Malibongwe Metals & Minerals and Hennox8321 CC and others are already in Hawks’ Serious Commercial Investigation custody,” said the SAPS in a statement.

The Pienaars case was postponed to 06 November 2020 pending further investigation.

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