A 31-year-old man has been arrested in connection with vehicle finance fraud to the value of R450 000.
The Hawks’ Serious Commercial Crime Investigation team arrested the man on Friday in Limpopo after he allegedly failed to make his vehicle finance repayments.
"On 27 November 2019, the suspect allegedly applied for vehicle finance at the Polokwane Toyota dealership using fraudulent documents. The deal was approved by the bank, resulting in the dealership delivering a vehicle worth R450 000 to him in Mpumalanga," said Hawks spokesperson Captain Matimba Maluleke.
The bank raised the alarm when the man failed to pay his first instalment and an investigation was launched.
"The investigations revealed that all the documents submitted for the vehicle finance were actually fraudulent. A case of fraud was opened and transferred to the Hawks for further investigation. The suspect was tracked and successfully traced to his Mpumalanga home where he was arrested," said Maluleke.
The man is expected to appear in the Polokwane Magistrate’s Court on Monday.
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