Swakopmund man defrauds local bank

SWAKOPMUND, 13 APR – A 55-year-old man allegedly provided false documents to Standard Bank Namibia here and managed to convince the bank to loan him money to the value of over N. dollars 5 million.
Between 2016 and 2017, he allegedly provided false bank statements and fake payslips from a company which seems to be non-existent.
A police incident report from Deputy Commissioner Erastus Iikuyu on Friday indicates that the suspect bought five cars and a caravan valued at more than N.dollars 5 million.
The police report shows that four Toyota Land Cruisers and one Toyota Prado were purchased.
“He unlawfully resold all the cars without settling his principal debts and ran to South Africa to evade justice. He allegedly also committed the same crimes in South Africa,” said Iikuyu in the report.
The commissioner said the suspect was recently arrested in South Africa, charged with fraud and is still in police custody pending investigations.
Iikuyu said so far, the police have only recovered the Toyota Prado which has since been repossessed by the bank, however the rest of the vehicles and the caravan were not recovered.
“The buyer of the repossessed Prado also opened a fraud case last month against the same suspect,” said Iikuyu.
NAMPA