Accountant gets 12 years for R60m investment fraud, money laundering
By IOL Reporter
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Cape Town – The Bellville Specialised Commercial Crimes Court has sentenced a 67-year-old accountant, Petrus Serdyn Louw, to 12 years’ imprisonment.
’’After extensive and laborious investigation’’, Louw was convicted of 49 counts of fraud, forgery and uttering, and money laundering involving R60.6 million, which resulted in the complainants, some of whom were elderly, losing all their life and pension savings.
He was sentenced to 15 years’ imprisonment for the 49 counts of fraud, with three years suspended for five years on condition that he is not convicted of fraud or theft or an attempt to commit any of the offences during the period of suspension, Eric Ntabazalila, the National Prosecuting Authority spokesperson, said in a statement.