LOAN SHARK CONVICTED FOR CONTRAVENING THE NATIONAL CREDIT ACT

FREE STATE – Elijah Zacharia Ngcola (54), has been convicted by the Welkom Magistrate’s Court on Monday after he pleaded guilty on ten (10) counts of contravening the National Credit Act.

The Hawks’ Serious Commercial Crime Investigating unit arrested Ngcola in December 2018 following a search and seizure operation that was conducted at his residence in Masilonyana near Welkom after investigation revealed that he was running an illegal cash loan business where he unlawfully retained his clients bank cards and identity documents to secure loan repayments.

Various items were seized during the operation which included, bank cards and identity documents. The Court has imposed a fine of R18000-00 or 30 months imprisonment on Ngcola.

The National Head of the Directorate for Priority Crime Investigation, Lieutenant General Godfrey Lebeya has welcomed the conviction. “The public is encouraged to resist any arrangements where their bank cards and identity documents are given to their creditors ‘bo-matshonisa’ as this is against the National Credit Act”. He said.