Two suspects are due to appear in the Bellville Magistrate’s Court on charges of fraud as well as money laundering linked to scams committed between 2015 and 2019. The duo were arrested yesterday.

The Hawks confirmed that the pair, aged 50 and 52, allegedly submitted fake agreements and invoices to get money from a finance company involved in factoring and invoice discounting. Hawks spokesperson Zinzi Hani says one company lost R25 million.

“They defrauded a finance company that specialised in factoring and invoice discounting by submitting falsified agreements and invoices to secure funds in excess of R240 million from the factoring business, resulting in a loss of R25 150 million.”

In another incident, a couple invested R4.4 million, which included pension funds, into what they believed was a finance investment and vehicle pawn business.

“They were promised high monthly returns on their investments, but it never materialised and later it emerged to be false.”

Furthermore, the suspects defrauded an investor who entered into a business venture to supply her with 25 tons of beef omasum.

“She paid R750 000 as a deposit for the R1 500 000 purchase price in July 2018. The suspects, however, never secured the product despite promises. Investors’ monies were misappropriated and used for personal gain.”