4 arrested, including a CFO and an attorney, after KZN college defrauded of R30 million

The chief financial officer allegedly approached Coastal KZN TVET College with an investment proposal, said Hawks spokesperson Captain Simphiwe Mhlongo.

Four people, including an attorney and a chief financial officer, have been arrested for allegedly defrauding a KwaZulu-Natal college of around R30 million.

The chief financial officer allegedly approached Coastal KZN TVET College with an investment proposal, said Hawks spokesperson Captain Simphiwe Mhlongo.

“It is alleged that during the period November 2018 and October 2019, the Chief Financial Officer made misrepresentations to Coastal KZN TVET College with regards to a lucrative investment opportunity for the institution,” said Mhlongo.

The CFO allegedly colluded with an attorney to create an investment proposal purporting to have come from a bank.

“It was then presented and accepted by the college. As a result, the college invested R30 million into a bank account similar to that of the college, when, in fact, it was false,” said Mhlongo.

The college later discovered that no investment was made on its behalf and reported the matter to the police.

“The Hawks were consulted to investigate, culminating in the arrest of the suspects,” said Mhlongo.

The suspects are expected to appear in the Durban Specialised Commercial Crime Court on Friday, on charges of fraud, corruption and money laundering.

-The Citizen

In other news – Makhadzi speaks on her bae, Master KG: How she keeps him satisfied and begging for more

She’s firmly secured herself as Limpopo’s queen of dance music. Makhadzi, real name Ndivhudzannyi Ralivhona, hasn’t let the grass grow under her feet, even during the lockdown. The Muya Wanga singer just turned 24 and is grateful for her health and booming career.

Master KG and Makhadzi

“I knew I would one day make it, but I didn’t think it would come so soon. I am happy to be healthy and alive, especially during this coronavirus pandemic,” she says. continue reading



Post a Comment

أحدث أقدم