Company director pleads guilty to 51 charges of fraud

Picture: Pixabay.com
Advertisement

Accountant and financial advisor, Petrus Serdyn Louw (63) appeared before the Bellville Specialised Commercial Crimes Court yesterday after he pleaded guilty to 51 charges of fraud.

Hawks spokesperson Zinzi Hani said, “Louw, a director of Louw & Cronje Inc. Chartered Accountants and Auditors Trading based in Porterville, acted as an accountant and financial advisor for several investors between July 2017 to March 2018.

“He convinced the investors to entrust him with their funds and deposit these funds into the First National Bank (FNB) account from where funds would be invested in bulk for a better return.”

Hani further states that Louw forged and provided investors with false FNB bank statements pretending to be held by his company with deposits held on behalf of the investors.

When investors didn’t receive their returns, a case was opened and referred to the Hawks for further investigation.

Louw was arrested on 27 November 2020 and found guilty on 51 counts of fraud, forgery, uttering and Contravention of the Prevention of Organised Crime Act (POCA) yesterday.

He faces 12 years direct imprisonment and was declared unfit to possess a firearm.