W Cape financial planner faces fraud charges

2014-06-11 20:19

(Shutterstock)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Cape Town - A former financial planner at Nedbank faces fraud charges for allegedly duping clients into making investments for his own benefit.

Andrew Charles van Reenen, 46, is also charged with money laundering.

He made his first appearance on Wednesday in the Bellville Specialised Commercial Crime Court in Cape Town, where magistrate Sabrina Sonnenberg warned him to appear again on 7 July.

The charge sheet lists four alleged victims.

They are Victor Patrick Fraser, who allegedly suffered a loss of R576 696, Anthony Patrick Bowden who lost R495 000, Sarah Doubell who lost R250 000 and Siyakholwa Ngcambaza who lost R150 000.

According to the charge sheet, the sole purpose of Van Reenen's engagement with Nedbank was to place long term insurance and investments with Old Mutual, Liberty, Momentum, Sanlam and Nedgroup Life.

He was not allowed to receive any money from or on behalf of clients.

The charge sheet says he held two bank accounts with Nedbank, and a third with FNB.

- SAPA
Read more on:    nedbank  |  cape town  |  crime
NEXT ON NEWS24X
SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
21 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
/News

Jobs in Cape Town [change area]

Property [change area]

Travel - Look, Book, Go!

Kalahari.com - shop online today

Deal of the week!

Petrol generators from R1399, save up to R350. While stocks last. Shop now!

30% off Pampers!

Save 30% when you buy 3 or more selected pampers products. While stocks last. Shop now!

This week only - 30% off books!

Get 30% off when you buy 2 or more books. Many titles to choose from. While stocks last. Shop now!

New range of Samsung smartphones!

Samsung Galaxy A3, A5 and Alpha now available at kalahari.com. while stocks last. Shop now!

Buy 3 eBooks & only pay for 2!

The cheapest of the 3 titles will be free. Many more titles to choose from. While stocks last. Shop now!

Horoscopes
Aquarius
Aquarius

You are very people sensitive today and there is a tendency to put too much energy on service and outer obligations. The balance...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.