A man has been arrested in KwaZulu-Natal in connections with a multi-million rand mortgage credit fraud, the directorate for priority crime investigation (Hawks) said on Saturday.
“The Hawks have arrested Malusi Norrison Kuzwayo, 34, for fraud, uttering, and money laundering relating to mortgage credit fraud to the tune of R9.5 million,” spokesman Captain Lloyd Ramovha said.
“Following long, drawn-out investigations Kuzwayo was nabbed in Umhlanga and he is accused of being part of a country-wide syndicate that presents falsified documents to banks for bond applications and other credit facilities, including vehicles,” he said.
He allegedly acquired two properties fraudulently in Gordons Bay and Constantia in Cape Town in the Western Cape between 2006 and 2007 with a combined value of just under R10 million.
Kuzwayo appeared in a Durban Specialised Commercial Court on Friday and his matter was transferred to the Cape Town District Court for July 4.
“The accused is to answer to almost a dozen charges in contravention of Prevention of Organised Crime Act. Possibilities of more charges being added cannot be ruled out.
“Disturbingly there’s a growing phenomenon of ordinary people agreeing to opening of bank accounts for fraud syndicates using their details. They are then paid a certain fee for their accounts to be used to channel and withdraw criminal proceeds.
“We want to warn people to refrain from such unlawful actions as they will be charged criminally for complicity to the original crime even if they might claim ignorance to it,” Ramovha said.[Source: African News Agency]