AFU seizes assets in Ponzi Scheme case

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The Asset Forfeiture Unit has seized vehicles, game farms, and holiday homes valued at over R59 million following a restraint order granted by the High Court in Johannesburg in connection with a Ponzi Scheme case.

The assets belong to Kevin Cholwich, Johannes Schoeman, and Johan De Clerk. From 2012 to 2016, the three accused, along with the late Robert Weimar, allegedly orchestrated the scheme through a company called FinCapital, resulting in over R100 million in losses for the public.

National Prosecuting Authority (NPA) spokesperson Phindi Mjonondwane says, “The Asset Forfeiture Unit of the NPA attached assets worth over R59 million in various parts of the country. The assets will remain in the custody of the curatorship, pending the finalisation of the criminal case against them.”

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