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2022/08/01      |  Written By:  Captain C Singo   |   Province:  Free State

FREE STATE - The accused, Johandre Visagie (26) appeared before the Bloemfontein Magistrates' Court on Thursday, 28 July 2022 where he was  sentenced for fraud and money laundering.

On 27 May 2018, an investment scheme was presented to the victim by Visagie. The agreement was that Visagie would trade in foreign currency with the investment money where after it would be sold again depending on the fluctuation of the rand value. High interest rates were promised to the victim who then agreed to invest his money.

On 23 May 2018 and 29 May 2018, the victim transferred R166 000 and R1 million respectively to Visagie's personal account intended for investing. After the victim invested the money, he did not receive the promised interest as well as the money he deposited as agreed. As a result of this fraudulent activities, the victim was prejudiced and suffered a total loss of more than R1 million.

The matter was reported to the police and assigned to the Hawks' Serious Commercial Crime Investigation based in Bloemfontein for further investigation. On 23 July 2019, Visagie was served with summons to appear in court. He appeared in court on several occasions culminating in his recent sentencing.

The court sentenced Visagie for several counts of fraud, money laundering and contravention of the Prevention of Organised Crime Act to six months up to 10 years imprisonment which will run concurrently. 

Visagie will serve 10 years direct imprisonment.