The Hawks Serious Commercial Crime Investigation team in the Eastern Cape is making inroads in clamping down the vehicle finance fraud. This follows the arrest of a 52-year-old suspect allegedly dubbed as a kingpin of the vehicle finance fraud syndicate operating in Port Elizabeth and East London.
He is allegedly linked to a total of 22 cases of fraud worth over R13.9 million and these cases happened in Port Elizabeth and East London between January 2013 and July 2019. The suspect along with his accomplices allegedly applied for loans at different banks, using fraudulent pay slips and bank statements, upon approval and receipt of these vehicle no follow up payments were made.
They also recruited runners who also make these applications and vehicle purchases.
The suspect was arrested on 11 May 2020, in Port Elizabeth. He is expected to make his first court appearance at the East London Magistrates Court on Wednesday, 13 May 2020 facing multiple charges of fraud, theft, money laundering, forgery and uttering.
More arrests are imminent.
South Africa Today – South Africa News