LOOK: Over R100 million worth of assets seized from Dundee company
Updated | By Nothando Mkhize
Prosecutors and the Asset Forfeiture Unit in KZN have swooped on the premises of a Dundee company - that'd swindled investors out of millions of rands.

The teams were granted an order to seize more than R100 million worth of assets from Coinit Trading and other liquidated business entities.
The NPA's Natasha Kara says the company ran ads on its website and in various newspapers calling for investments.
A number of people deposited money into Coinit's accounts - thinking it would be used to purchase plant materials, rigid trucks and front-end loaders - among other things.
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"The matter is in connection with the contravention of the Financial Advisory and Intermediary Act 37 of 2002 and the Banks Act 94 of 1990. This order follows a preservation order to freeze the assets granted in November 2020 by the same court."
"The forfeited property includes 11 pieces of land in Dundee, five aircrafts and a motor vehicle. The forfeited assets will be handed into the custody and control of the liquidators of Coinit and the other liquidated entities, once the forfeiture order takes effect."






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