The Palm Ridge Specialised Commercial Crimes Court has convicted and sentenced a 44-year-old woman for orchestrating a sophisticated fraud and money laundering scheme that defrauded a victim of over R4.59-million.
According to the Hawks, Amanda Gloria Edgar was the mastermind behind the fraud.
The Hawks revealed that there was a fraudulent property transaction that unfolded between October 2015 and September 2016 where the victim, intending to purchase a property in Croatia, was misled into believing they were dealing with the property’s legitimate owner.
During negotiations, an agreement was reached to purchase the property for €850,000, with an initial payment of €300,000 (equivalent to over R4.5-million) to be made immediately and the balance payable within two years. A contract, sent via email, instructed the victim to transfer the funds into an FNB bank account, which the victim promptly did.
Red light
The transaction raised red flags with the Financial Intelligence Centre (FIC), which contacted the victim to warn of potential fraud. Despite the victim’s initial insistence that the payment was legitimate, further investigation by the Hawks revealed that the bank account belonged to Peak Global, a company owned by Edgar.
The Hawks uncovered that Edgar transferred the funds to various business and personal accounts to obscure the money trail.
“Investigations revealed a calculated scheme designed to exploit trust,” said Major General Ebrahim Kadwa, Provincial Head of the Hawks in Gauteng.
“The diligence of our Serious Commercial Crime Investigation team, alongside the prosecution, ensured that justice was served.”
Edgar was arrested in October 2023 at Delft Police Station and later released on bail. During her trial earlier this week, the court found her guilty of fraud and money laundering.
She was sentenced to 10 years in prison, with five years suspended, meaning she will effectively serve five years behind bars.
“This conviction sends a strong message that fraudulent schemes will not go unpunished. We remain committed to rooting out financial crime and protecting the public,” said Kadwa.
