Gerrit Erasmus (62), who tried to fleece Standard bank through a multimillion-rand bond application has been sentenced after he was convicted for fraud by the Cape Town Regional Court on 27 January 2021.
Erasmus applied for a home loan worth R19 million from the bank in June 2019 using false credentials including an identity document. The Cape Town Hawks’ Serious Commercial Crime Investigation team was alerted and he was immediately arrested.
Following a plea agreement, the court has sentenced Erasmus to two years imprisonment that is suspended for five years on condition that he is not found guilty of fraud and theft during the period of the suspension.
Additionally, he was given three years correctional supervision.
