One of the six accused of defrauding two banks of more than R6 million in luxury vehicles, has received a suspended sentence, and has been ordered to repay the banks while his accomplices are still on trial.
The accused, all from Bloemfontein, stand accused of defrauding Standard Bank and West Bank in 2017.
Investigations revealed the accused defrauded the two banks through false personal loan and vehicle finance applications.
Chilleroy Floyed Buys (40) pleaded guilty to fraud and money laundering charges during his appearance in the Bloemfontein Magistrate’s Court on Wednesday (28/09). The court slapped him with a 12 years’ imprisonment sentencing, wholly suspended for five years, and 12 months correctional supervision. In addition, Buys was also ordered to repay the two banks as part of the plea.
His accomplices on trial are Mosa Harington Tseleli (39), Simon Cornelius Botha (49), Glen Ceasar Crouch (34), Jolene Crouch (38), and Veronica Crouch (33).
They were arrested in February 2020, following an investigation by the Hawks’ Serious Corruption Investigation team based in Bloemfontein.
Capt. Christopher Singo, provincial spokesperson of the Hawks, said following the plea, Buys will repay R300 000 back to Standard bank and Wesbank on a monthly instalment of R5 000.
Investigation by the police’s elite crime-fighting unit discovered that in 2017 Tseleli, who was an employee of Standard Bank, facilitated the process of completing applications for vehicle finance and personal loans for his five accomplices, despite knowing that they did not meet the requirements.
After the deals were fraudulently approved, the accused purchased a range of high-end vehicles such as a BMW 220i, a BMW 320d, a BMW X-drive, two VW Golf GTIs, and a Mercedes-Benz coupe. An estimated R800 000 was acquired in loans.
Singo said the two banks were prejudiced and suffered more than R6 million in losses.
