Estimated reading time: 4 minute(s)
A 34 years old alleged investment fraudster Charles Martin Dunn who was arrested on an alleged R 40million investment fraud has been released on R 40K bail.
This follows his arrest at his Melville home this past weekend after investigations into investment fraud and theft against him.
Police say their investigations allege that Dunn lured complainants to buy shares at companies such as Anglo American, Khumba Iron Ore and Wesizwe worth over a R1 million between December 2016 and January 2018.
It was later discovered that the said suspect, Dunn, does not own any shares in above mentioned companies, but he allegedly fraudulently created certificates as proof of dividends to his clients.
“Approximately R40 million was allegedly deposited into Dunn’s bank account by potential shareholders.”
“A warrant of arrest was issued last Friday, 16 October 2020 for his apprehension. He was arrested and charged for fraud and theft at his residence in Melville on Saturday” said Hawks’ Captain Ndivhuwo Mulamu.
His bail was granted by the Palm Ridge Specialised Commercial Crimes Court and will appear again on November 18 pending further investigations.