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Courtroom LATEST: Monetary advisor guilty of selling fake policies

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Courtroom LATEST: Monetary advisor guilty of selling fake policies

A musty financial advisor, Stephanus Johannes Janse Van Rensburg, 68, has been discovered guilty of 9 counts of theft amounting to R 1 874 370 million, in the Port Elizabeth Specialised Business Crimes Courtroom. 

Janse Van Rensberg regarded in court this week for the launch of his trial. He pleaded guilty to the costs.

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Nationwide Prosecuting Authority spokesperson, Anelisa Ngcakani, said the Hawks had arrested Janse Van Rensburg on 8 February 2021.

“Between July 2008 and March 2015, Janse van Rensburg offered 9 Primitive Mutual and Momentum 2d hand policies to his client Esther Freesia Adendorff. Adendorff is now deceased. The accused used to be Adendorff’s financial dealer,” Ngcakani said.

“He convinced her to use modern policies of third events. This supposed that she would develop to be the brand new proprietor to whom the declare could well well be transferred,” Ngcakani said.

Ngcanki said that Van Rensburg convinced Adendorff to stamp the cessionary agreements and to pay over the agreed amounts. She made 15 payments in complete from July 2008 to October 2011 which totalled R1 874 370. 

“Every three hundred and sixty five days Van Rensburg furnished Adendorff with an  annual summary of the most modern payment of her portfolio. As proof of the existence of the cessionary contracts, Van Rensburg supplied her with copies of the ceded policies and a summary of her investment values for tax applications. These paperwork had been all fictitious,” Ngcakani said.

On 27 Can also 2015, Adendorff’s son, Ralph, made loads of requests for copies of paperwork linked to the policies nonetheless Van Rensburg had did no longer offer the paperwork.

“Because of this, it used to be discovered that the Primitive Mutual and Momentum policies had been never transferred or registered in the name of Adendorff nor did the policies ever belong to the actual participants as Van Rensburg had urged Adendorff,” Ngcakani said.

Senior Dispute Suggest Lise Keech, well-liked his guilty plea and Magistrate Nolitha Bara discovered Van Rensburg guilty of theft.

The court case used to be postponed to 4 October 2021 for sentence court cases.

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Courtroom LATEST: Monetary advisor guilty of selling fake policies