The Asset Forfeiture Unit (AFU) has taken decisive action against a notorious Ponzi Scheme, resulting in the seizure of valuable assets worth over R59 million.
This move follows a restraint order granted by the High Court in Johannesburg, targeting the ill-gotten gains of the perpetrators involved in the fraudulent scheme.
The accused masterminds behind this elaborate financial deception include Kevin Cholwich, Johannes Schoeman, and Johan De Clerk.
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Their operation spanned from 2012 to 2016, during which time they allegedly orchestrated the Ponzi Scheme through a company known as FinCapital. Tragically, the late Robert Weimar was also implicated in this criminal endeavour.
The AFU’s intervention has led to the confiscation of the following assets:
- Vehicles: Luxury cars and other motor vehicles owned by the accused.
- Game Farms: Valuable properties used for game breeding and hunting.
- Holiday Homes: Lavish vacation residences acquired through illicit means.
NPA spokesperson Phindi Mjonondwane emphasized that these assets will remain under the custody of the curatorship until the criminal case against the accused is fully resolved.
The AFU’s actions aim to restore justice and compensate the victims who suffered losses due to the Ponzi Scheme.
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