Share

Three arrested for Land Bank fraud

Johannesburg - Three men were arrested for allegedly using falsified Land Bank guarantees to defraud a businessman out of R130m, a spokesperson for the agricultural finance institution said on Monday.

Adam Shepherd, David Smith and Kenneth Sticker allegedly used forged Land Bank guarantees and a letter of confirmation in a property transaction to get a Middelburg businessman to hand over the R130m as an advance on a transaction to buy an agricultural estate in KwaZulu-Natal in 2006, spokesperson Musa Mchunu said in a statement.

The men were not associated with the Land Bank. They appeared in the Middelburg Magistrates' Court last week on charges of fraud and forgery. Their case was postponed to October 5.

"It is suspected they may be involved in more cases. More arrests could be made in the near future."

The men were released on R10 000 bail each.

- Sapa
We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.97
-0.1%
Rand - Pound
24.10
+0.0%
Rand - Euro
20.61
-0.1%
Rand - Aus dollar
12.37
+0.4%
Rand - Yen
0.13
+0.5%
Platinum
906.50
-1.8%
Palladium
1,010.52
+0.4%
Gold
2,156.15
-0.2%
Silver
24.97
-0.3%
Brent-ruolie
86.89
+1.8%
Top 40
65,948
-0.5%
All Share
72,132
-0.4%
Resource 10
53,232
-0.2%
Industrial 25
99,741
-0.7%
Financial 15
16,581
-0.3%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders