Modack co-accused fined R10,000 after admitting car finance fraud

Modack co-accused fined R10,000 after admitting car finance fraud

“Van Oudtshoorn admitted that on or about June 3 2020, he unlawfully, falsely, with the intent to defraud and to the potential prejudice of a complainant, prepared and submitted on the request of Nafiz Modack an annual financial statement for the year ending February 29 2020,” said Mogale.

“This was allegedly done for Empire Investment Cars. The said financial statements are reported to have been based on information that was supplied by Nafiz Modack. They were later presented to First National Bank in support of an application for asset finance.”

Van Oudtshoorn pleaded guilty to a fraud charge. He was sentenced to a R10,000 fine or two years’ direct imprisonment. A further three years’ imprisonment was wholly suspended for five years.

TimesLIVE

Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.

Read More

Write a comment

Your email address will not be published. All fields are required