Fraud Latest: Listed financial institution’s broker gets bail

A 39-year old Gauteng Nedgroup investment broker has appeared in court on charges of fraud and theft.

Hawks spokesperson Captain Ndivhuwo Mulamu said that Zama Precious Ngubane appeared in the Tsakane Magistrates Court this week after she allegedly referred Nedgroup clients to external private investment brokers who promised them large returns on their investments.

“It is alleged that in April last year, three clients had a consultation at a Nedbank branch in Tsakane to invest an amount of R1.7 million collectively,” Mulamu said.

“During the consultation, clients were allegedly referred to a private investment broker, Ngubane who is the Director at Ezamankomo (PTY) Ltd.”

Mulamu said that Ngubane had allegedly promised the prospective clients “guaranteed” lucrative dividends that they would receive as part of a five year investment plan with her company.

“The Hawks’ Serious Commercial Crime Investigation successfully traced and apprehended Ngubane in Springs and charged her with fraud and theft,” Mulamu said.

Ngubane appeared in the Tsakane Magistrates Court on Thursday where she was granted R3000 bail. The case has been postponed to Monday 14 June 2021 for the matter to be transferred to Tsakane Regional Court. 

Meanwhile, police earlier arrested a fugitive in Musina for alleged credit card fraud after he had been on the run from the authorities since January 2021.

Authorities swooped on Vusi Lukhele (28), after he was flushed out at the Beitbridge border post in Limpopo province in early May

Directorate for Priority Crime Investigation (Hawks) spokesperson Zinzi Hani said the suspect had allegedly committed credit card fraud in amounting to thousands of rands in a shopping mall located in the Western Cape province.

“This emanates from an alleged credit card fraud which occurred at the Outdoor Warehouse in Somerset West mall in October 2020 wherein the store almost lost just over R14000,” he said.