Who is Yusuf Omarjee?

2014-07-26 00:00

THE Umhlanga tycoon gained notoriety in 2010 when a police probe uncovered that he had three ID books, two of which were false.

Using these, he fraudulently secured finance from a range of banks and set up fake trust funds worth an estimated R39 million.

One bore his birth name, Yusuf Mohammed Omarjee, another was under the name Yousuf Omarjee and the last with the name Essop Bhana.

He defrauded Standard Bank, Wesbank and Absa of varying amounts of cash. Some of the financial houses took civil action against Omarjee and his wife, with Wesbank obtaining a judgment against Timewise Couriers, one of their businesses.

It was placed under provisional liquidation and Omarjee was fined R2,5 million.

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