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Accountant Petrus Louw sentenced to 12 years for fraud Louw forged bank statements and provided clients with falsified documents. Gavel on cuffs. Picture: SAPS
21 days ago
CAPE TOWN - An accountant and financial advisor from Porteville in the Western Cape was convicted and sentenced after pleading guilty to 51 charges of fraud.
Petrus Louw appeared in the Bellville Specialised Commercial Crimes Court on Thursday.
Louw, a director of Louw & Cronje Inc. Chartered Accountants and Auditors Trading, acted as an accountant and financial advisor for several investors between July 2017 to March 201.
Petrus Louw embezzled more than R60 million.
Louw told his clients their money would be invested for a better return.
An accountant and financial adviser who told clients he was investing their funds in bulk for better returns has been sentenced to 12 years in prison for embezzling more than R60m.
Services | SAPS (South African Police Service) saps.gov.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from saps.gov.za Daily Mail and Mail on Sunday newspapers.
Financial adviser jailed for embezzling R60m of clients investments timeslive.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timeslive.co.za Daily Mail and Mail on Sunday newspapers.