CAPE TOWN CON MAN CONVICTED IN OVER R500 000 FOREX FRAUD

WESTERN CAPE – Eltan Olivier (34) received a slap on the wrist after being found guilty of fraud to the tune of over R500 000.
Olivier appeared in the Mossel Bay Regional Court for fraud committed in Great Brakriver in 2015. FNB forex received payment totalling to R586 860,30. The funds were intended for a FNB Lesotho customer under the name OMI investment(PTY) LTD, with an FNB Lesotho account.
This OMI investment account appeared to be incorrect. FNB conducted a search on the account name, which revealed that the OMI investment Hogan account is registered under the name of Olivier at a South African Branch. Money was then paid into the accused South African account . Immediately after the payment was made, Forensic investigator from FNB enquired about the forex payment paid into Olivier. Through an intensive investigation by FNB, it was later discovered that OMI Investments in Lesotho does not exist and that, it was in fact the account that needed to be credited the amount of R586 860,30. FNB forex suffered a loss of R586 860,30.
This then led to the matter to be reported to the Hawks members from George Serious Commercial Crime unit. Olivier was sentenced yesterday to three (3) years imprisonment wholly suspended for 5 years on condition that he will repay the amount of R293 430, 15 to FNB Forex over a period of 59 months, starting from April 2021.