Executor of estates arrested for allegedly pocketing R5m
A 70-year-old former executor of deceased estates has been arrested for fraud after allegedly pocketing more than R5-million in Cape Town.
A former employee at the High Court in Cape Town‚ who has since been struck off the roll of attorneys‚ he allegedly preyed on his victims between 2006 and 2013.
His modus operandi involved telling his victims that their assets were to be allocated to an estate bank account‚ when in fact he had sold some of the assets and pocketed the proceeds.
He allegedly deposited the money into his business and personal bank accounts.
The Hawks Serious Commercial Crime Unit arrested the man on Friday. He is expected to appear in court on December 5 and has been released from custody on a warning.