Fraudster forfeits R13m to state
Dutch national Martin Korver has been convicted and sentenced for fraud in the Bellville Commercial Crimes Court.
According to the Cape Times, Korver was convicted of fraud and theft totalling R10.9m. He entered into a plea and sentencing agreement, where he confessed to his crimes.
The complainants were Gustav Schaefer and Jan Eberhard Schliemann, directors of Korevest Investments Group (Pty) Ltd and Cobow (Pty) Ltd, which runs a guesthouse in Somerset West.
In November 2013, Korver opened bank accounts with Investec SA on behalf of the two companies. The bank accounts were linked to his personal bank account without the knowledge or consent of the complainants.
Arguing in aggravation of sentence, Prosecutor Denzyl Combrink said Korver abused his position of trust.
The court sentenced him to 10 years direct imprisonment for each count of which both were wholly suspended for five years on condition he is not convicted of fraud, theft, and/ or any offence of which dishonesty is an element during the period of suspension.
It further made a confiscation order for the amount of R13.4m.
Korver was also sentenced to 36 months of correctional supervision, including house arrest for 24 hours per day.
He will be allowed to leave home between 7am and 7pm on weekdays for work.
The court sentenced him to community service for 16 hours per month for the duration of his sentence.
It ordered him to attend rehabilitation programmes.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.
