Fraudster nabbed by Hawks

Fraudster nabbed by Hawks

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26 August 2022

The alleged contract also stated that the investment shall be paid back to the investors with returns, as a lump sum of R302 370 on or before 30 September 2020.

Mbhasobhi Amos Zulu (39) appeared before the Bethal Magistrate Court for fraud worth one million Rand on Tuesday, 23 August 2022. Zulu was, on 14 July 2022, served with summons by the Middelburg based Hawks’ Serious Commercial Crime Investigation to appear in court to face his fraud allegations.

It is alleged that the suspect met with his victims, informed them about his business, and that they must invest in his company, Mbhasi Trading (PTY) LTD. The victims signed an investment agreement with the suspect on 28 August 2020. The contract was between the Mbhasa Trading PTY LTD, and the victims as investors, provided the contract holder with financial investment amount of R85 000, paid by electronic fund transfer (EFT).

The alleged contract also stated that the investment shall be paid back to the investors with returns, as a lump sum of R302 370 on or before 30 September 2020.

After the contract was signed, several EFTs were made to the victims between 4 September and the 7 October 2020, and the suspect allegedly received a total amount of  R3 910 000.

The suspect manufactured a fraudulent proof of payment from his account 8 August 2020, claiming that the total transfer amount of R3 910 000 did not all reflect on the receiving account, and the suspects suffered a total loss of R1 256 000.

The suspect appeared before the Bethal Magistrate Court, and the case was transferred to Bethal Regional Court, where it was postponed to 30 August 2022 for further investigation.