A fourth man was also part of the alleged mastermind group, but Robert Paul Weimar died in 2017 before the commencement of the trial.The accused were found to be conducting “the business of a bank” contrary to the relevant provisions of the Banks Act using a company called FinCapital.
The accused advertised ‘licence partnerships’ which promised passive income and investment opportunities with large returns, all of which were effectively laundered. “In the NDPP’s court papers, it is alleged that the accused benefited and the respondents and/or individuals linked to them consequently received affected gifts derived from the Ponzi scheme,” stated GautengThe NPA’s Asset Forfeiture Unit affected the order and the assets will be in the custody of a curator pending the outcome of the trial.
“Head of the Hawks in Gauteng, Major-General Ebrahim Kadwa, similarly commended the excellent collaboration between all three state agencies, particularly highlighting the excellent work culminating in the restraint order,” Mjonondwana concluded.‘Google me!’: Ajay Gupta’s words to builder who committed suicide