A 32-year-old man from Taung in the North West province has been sentenced by the Taung regional court to 18 years jail time for pulling the wool over trhe eyes of some elderly folk.
He had duped them signing for a funeral policy at his nonexistent company. National Prosecuting Authority spokesperson Homelang Manare said he had acted as a financial services provider without having a license.
“He lured members of the public, particularly the elderly who lived off social grants, to take funeral insurance policies from his company, Omolemo Funerals, whilst he knew his company is not registered.”
Mamothame explained that Manare was sentenced for one count of the Contravention of Section 7(1) of the Financial Advisory Intermediary Act 37 of 2002 and five of fraud.
“Between 2019 and 2020, the accused registered five complainants on cashback policies in his company (Omolemo Funerals) after he had promised that he will pay them after the death of the insured. He made all these promises knowing very well that his company was not underwritten by any insurance company and will not be able to pay the claims lodged,” said Mamothame.
“On count one he was sentenced to 10 months or a R20 000 fine, and on the five counts of fraud, he was sentenced to 18 months imprisonment.”
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