Joburg man accused of swindling family trust fund out of R300 million

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Martin Ashley Levick is accused of swindling a family trust out of millions.
Martin Ashley Levick is accused of swindling a family trust out of millions.
PHOTO: Supplied/Hawks

A man accused of swindling a family trust out of millions has appeared in the Palm Ridge Specialised Commercial Crimes Court.  

Martin Ashley Levick, 52, was arrested after a warrant was issued by the Johannesburg Magistrate’s Court earlier this month.

He is accused of defrauding the trust fund of around R300 million in 2017, said Hawks spokesperson, Captain Lloyd Ramovha.

READ | Alleged fraudster who swindled victims out of R18m arrested in Durban

"Levick reportedly approached the family and presented a fraudulent investment scheme named Peermont Preference Shares. He allegedly stated that the family stood to gain astronomically from an offshore investment.

"Needless to say this was never the case," said Ramovha.

Levick allegedly disappeared with the funds, and a case of fraud was registered for investigation with the Hawks.

A warrant for Levick’s arrest was issued earlier this month. He was arrested on Monday and appeared in court on Tuesday. He is expected back in court on Thursday for a bail application.



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