Businessman up for R19m fraud
2003-04-03 13:21
Phuthaditjhaba - A businessman was arrested in Phuthaditjhaba, Qwa Qwa, on Wednesday on 30 charges of fraud totalling almost R19m, eastern Free State police said on Thursday.
Richard Kabi, 41, appeared in the Phuthaditjhaba magistrate's court and his case was postponed to April 9. He is in police custody.
Constable Christopher Mophiring said Kabi, who owns the Qwa Qwa hotel, was arrested at his home in De Bult, Phuthaditjhaba. The arrests were carried out by members of the Bloemfontein commercial crime unit.
The fraud charges involved the order of luxurious vehicles in the names of big companies and fictitious enterprises.
"After ordering the vehicles, they were paid with stolen cheques and then taken to Namibia," Mophiring said.
He said company names used to make orders included Anglo Gold, the Free State Development Corporation and the then Qwa Qwa Development Corporation.
During the arrest police confiscated a number of documents, cheques, deposit slips and three computers.
The arrest follows nearly three years of investigations.
- SAPA