Vehicles worth R15-million seized in Durban car finance scam
Fourteen suspected fraudsters have lined up in the Durban Magistrates' Court in connection with a car finance scam.
The suspects, aged between 24 and 58, are believed to be part of a vehicle finance fraud syndicate that defrauded banks around Durban.
They were arrested in a two-day operation in which police also recovered vehicles valued an R15 million.
They were traced to areas in Chatsworth, Phoenix and Montclair.
Police spokesperson, Thembeka Mbele explains how the syndicate operated.
"20 cases of motor vehicle finance applications were detected and approved by a bank employee. The modus operandi was to approach unemployed people and people who were desperate for money in order to get their ID copies. The employees would conduct a credit check and process the application. After the application has been approved - the instalment was not made to the bank," Mbele said.
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