Fraudster granted R10K bail. Image: Flickr
Man charged with fraud amounting to over R9 million granted bail
The Delareyville Magistrates’ Court has granted bail to a man charged with fraud amounting to over R9 million.
Fraudster granted R10K bail. Image: Flickr
The Delareyville Magistrates’ Court has granted bail and postponed the fraud case against Reginald Scholtz 57, to 3 May 2023.
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This will allow the state to submit all the documents related to this matter to his defence attorney, and for the matter to be transferred to the Specialised Commercial Crimes Court for trial.
Bail and fraud case details
He was granted R10 000 bail and the court ordered him to surrender his passport to the investigating officer.
He was further instructed to report to his nearest police station every Monday between 06h00 and 18h00.
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Scholtz is facing 61 charges of theft and fraud amounting to R 9,1 million. He was arrested by Police on 12 March 2023.
He was charged for allegedly stealing over R9 million from Botselo Mills (Pty) Ltd. where he was employed as the Group Financial Manager.
According to the Hawks investigations, Scholtz held three bank accounts from three banking institutions.
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Scholtz’s fraudulent transactions
From January 2017 to August 2022, he fraudulently transferred money into these accounts under the pretence of paying service providers.
He had authority to access the company’s banking systems.
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Scholtz allegedly created forms requiring authorisation and approval for the release of funds to be paid by the company to service providers.
His fraudulent ways of manipulating the company’s financial system would eventually result in payments into his personal accounts.
Head of the Specialised Commercial Crimes Unit in the North West, Adv Bongani Chauke, indicated that fraud investigations are complete and the state is ready to go for trial.
We appreciate all the role-players for their collaboration leading to the arrest and court appearance. We have confidence in the criminal justice system that it will deal decisively with perpetrators of such crimes.
North West Provincial Commissioner, Lieutenant General Sello Kwena.
