A 37-year-old man was convicted for fraud for his involvement in a fraudulent gold coin investment scam in the Bloemfontein Magistrates Court on Tuesday.
Hawks regional spokesperson Christopher Singo said Eugene Ettiene Rossouw was convicted and sentenced for his involvement in the scam between 2010 and 2015. He was handed a suspended sentence on condition he refund all the money that he had scammed from his victim.
“His conviction emanates from the incident which took place on Tuesday, 20 April 2010 where the complainant was contacted by Rossouw with regards to the investments of gold coins,” Singo said.
“Rossouw told the complainant that he had started his own gold coin investment business. He then convinced the complainant to invest in his company in December 2010,” he said.
Singo said the victim had invested in further gold coins in the investment scam between 2011 and 2014 in the hope of gaining a financial return.
“During June 2015, the complainant needed money and decided to withdraw from the scheme,” Singo said.
However, after it became clear that Rossouw could not keep his promise the victim then reported the matter to the police and the case was handed over to the Hawks Serious Commercial Crime Investigation team in Bloemfontein. “As a result of the fraudulent activities the complainant suffered a total loss of R311 700-00,” Singo said.
Rossouw was served with a summons in Cape Town on September 10, ordering him to appear in the Bloemfontein Magistrate Court.
“He appeared in court on several occasions culminating in his recent conviction,” Singo said.
Singo said Rossouw was convicted and sentenced to fives years imprisonment. However, his sentence has been suspended for five years on condition that he refund the amount of R311 700-00 via a monthly instalment of R5000 on or before 31 January 2026.
Leave a Reply