Daily Archives: May 7, 2022

Alleged asset finance fraudster released on bail

EASTERN CAPE – Liliso Nombewu (28) was released on R1000 bail during his first appearance in East London Magistrate Court on Friday, 6 April 2022 for allegations of asset finance fraud.

It is alleged that on 18 December 2018, Nombewu approached Meyers Motors with the intention to purchase an Opel Astra with a purchase price of more than R147 000.

When applying for vehicle finance, he attached the proof of employment and income and his application was approved.

Nombewu reportedly failed honouring his instalments from the onset. The bank's Forensic Investigation concluded that Nombewu made a misrepresentation and misled the institution.

Nombewu was arrested after the matter was reported to East London based Serious Commercial Crime Investigation team of the Hawks.

The matter was remanded to the 9 June 2022 for legal representation after his successful bail bid.

Source: South African Police Service