Investment broker duped into supporting residential development, court hears

2015-04-07 20:23

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Cape Town - An unsuspecting Gordon’s Bay investment broker was duped into supporting an alleged fraudulent residential development on the top of the Piketberg, a court in Cape Town heard on Tuesday.

Gordon’s Bay broker Chris van Tonder testified at the trial of Jacobus Johannes Lambrechts and his son Simon, who pleaded not guilty to multiple fraud charges relating to the residential development.

The father and son appeared in the Bellville Specialised Commercial Crime Court, before Magistrate Sabrina Sonnenberg.

Van Tonder told the court that his wife, Antoinette, spotted the advertisement in the Rapport newspaper, concerning the investment opportunity.

He arranged a meeting in Piketberg with Jacobus Lambracht, accompanied by Van Tonder’s wife and son, and a team of brokers and potential investors in the project.

Van Tonder told the court: “The purpose of the meeting was to acquaint the brokers and potential investors with the attractive investment, opportunity, and for Lambrecht senior to answer any questions.”

He alleged that Lambrecht led them all to understand that he and his son owned the beautiful stretch of land on top of the Piketberg, zoned for agricultural purposes, and that rezoning for residential purposes had already been approved.

Van Tonder said Lambrecht gave them a complete presentation, and said the intended development was totally practical for residential purposes.

They also understood from Lambracht that R9m was already held in trust for the development.

Prosecutor Jannie Knipe alleged that the land in question did not belong to the Lambrechts.

He argued that the land had not been approved for rezoning, and that there was no question of this happening.

Van Tonder told the court that he would never have canvassed for investment had he known that the land in fact did not belong to the Lambrechts.

The case continues on Wednesday.

Read more on:    cape town  |  fraud  |  crime

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