Three Hundred Million Rand family trust swindle, accused remanded in custody

South African Police Service

Three Hundred Million Rand family trust swindle, accused remanded in custody
Three Hundred Million Rand family trust swindle, accused remanded in custody

Martin Ashley Levick (52), is expected back in the Palm Ridge Specialised Commercial Crimes Court on Thursday, 24 November 2022, after he was remanded in custody by the same court on Tuesday.

Levick was sought on a warrant of arrest that was issued by the Johannesburg Magistrate’s Court earlier this month. He is accused of swindling a family trust fund of millions of American dollars’ worth of shares equivalent to just over three hundred million in South African rands in 2017.

Levick reportedly approached the family and presented a fraudulent investment scheme named Peermont Preference Shares.

He allegedly stated that the family stood to gain astronomically from an offshore investment, needless to say this was never the case.

Shortly afterwards Levick was nowhere to be found despite his promises to the contrary. This culminated in a case of fraud being registered for the Hawks Serious Commercial Crime investigation to begin.

A warrant for Levick’s arrest was issued earlier in November resulting into his arrest on Monday, he consequently appeared in court and is awaiting his fate on Thursday in a bail hearing.

The Gauteng Provincial Head of the Hawks, Major General Ebrahim Kadwa has congratulated the investigation team for the arrest of the sought fugitive.

SAPS Newsroom

SOURCESouth African Police Service