GAUTENG – Alleged investment fraudster in court for over R40 million scam

GAUTENG – The Palm Ridge Specialised Commercial Crimes Court granted Matthew Charles Dunn (34) bail during his court appearance on allegations of fraud on Monday, 19 October 2020.

Dunn was arrested at his residence in Melville on Saturday, 17 October 2020 following an investment fraud and theft investigation against him.

It is alleged that Dunn lured complainants to buy shares at Anglo American, Khumba Iron Ore and Wesizwe worth over a R1 million between December 2016 and January 2018.

Further investigation revealed that Dunn did not own any shares at the above entities, however he allegedly fraudulently created certificates as proof of dividends to his clients.

Approximately R40 million was allegedly deposited into Dunn’s bank account by potential shareholders.

A warrant of arrest was issued last Friday, 16 October 2020 for his apprehension. He was arrested and charged for fraud and theft at his residence in Melville on Saturday.

He was granted bail and the case is postponed to 18 November 2020 for further investigation.

Read previous post:
WESTERN CAPE – Suspect arrested for possession crayfish worth R3.5 million

WESTERN CAPE - The luck of an abalone smuggler (a 38 year old man from Hawston) ran out this morning...