Family members in court on charges of fraud, theft involving more than R73 million

A combined effort by the KwaZulu-Natal (KZN) division of the National Prosecuting Authority (NPA) and the KZN Directorate for Priority Crime Investigation (DPCI) Hawks led to the arrest of three people involved in a multimillion-rand fraud and theft case.

Accused Malcolm de Beer, 54, Patricia de Beer, 53, and their daughter Samantha de Beer, 31, appeared in the Pietermaritzburg Magistrate’s Court on Tuesday January 23 on charges of fraud, with the alternative charge of theft, to the amount of approximately R73. 6 million, said NPA regional spokesperson Natasha Ramkisson-Kara. They are also charged with Contravention of the Financial Advisory and Intermediary Services Act, the Banks Act, and money laundering, she said.

“COINIT had placed advertisements on its website and in different newspapers calling for people to invest with them. As a result of the advertisements, several people deposited funds into COINIT’s bank accounts,” she said.

“In terms of the Financial Advisory and Intermediary Act and the Banks Act, COINIT was not authorised to accept deposits from investors. The state alleges that the entity was not registered as a financial services provider; and contravened the legislation by not having the prescribed licence.”

The three accused were released on bail of R50 000 each. Mr Malcom de Beer and Ms Patricia de Beer surrendered their passports and were advised to contact the Investigating officer should they wish to travel, said Ms Ramkisson-Kara.

“The matter, which was remanded to March 19, will be transferred to the Specialised Commercial Crimes Court in Durban and the accused will appear there on the next occasion,” she said.

“The NPA and the DPCI are committed to fighting fraud, and by working together with each other and our partner stakeholders. Together we can turn the tide against crime in South Africa,” added DPCI spokesman Captain Simphiwe Mhlongo.