A 33-year-old woman was arrested on Thursday after it was found that she misappropriated funds in excess of R5 million:
detained the woman on a charge of fraud after investigations revealed that she lured potential property investors with a possible return on their investment.
Warrant Officer Joseph Swartbooi says the woman, who was the sole director of an alleged real estate, paid the funds she received from investors directly into her bank account. Several victims invested more than R5 million between 2021 and 2022.
‘According to reports, he advised four of his clients to deposit funds into his personal bank account. The funds as per the agreement with the clients [were] however never paid into the business account where he was employed or refunded to the clients. The suspect instead used the cash for his personal gain,’ saysExplore Cape Town and its surroundings with these incredible deals on cars for under 100k.
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