Stockbroker turned nurse bust for fraud


Stockbroker turned nurse bust for fraud

TMG Digital | 2017-06-01 12:30:18.0

File photo.

Image by: iStock Images

A 52-year-old suspect is expected to appear before the Bellville Magistrate’s Court on Friday for fraud amounting to over R30 million‚ following his arrest by the Hawks’ Serious Commercial Crime Unit.

“The suspect‚ a former Financial Services Provider/Stockbroker who now works as a Professional Nurse‚ was arrested whilst doing night duty at a local private clinic in Cape Town” on Wednesday‚ the Hawks said in a statement.

It is alleged that‚ between 2004 and 2014‚ he duped unsuspecting victims – most of whom were specialists within the medical field in the Western Cape – into investing large sums of money using his entity under the guise that their investments would yield huge returns.

“But he apparently used the funds for personal gain instead‚” the Hawks said.

He is expected to face charges related to fraud‚ theft and money laundering.

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