GAUTENG – The Palm Ridge Specialised Commercial Crimes Court granted Matthew Charles Dunn (34) an R3000 bail during his court appearance on allegations of fraud on Monday, 19 October 2020.
Dunn was arrested at his residence in Melville on Saturday, 17 October 2020 following an investment fraud and theft investigation against him.
It is alleged that Dunn lured complainants to buy shares at Anglo American, Khumba Iron Ore, and Wesizwe worth over an R1 million between December 2016 and January 2018.
Further investigation revealed that Dunn did not own any shares at the above entities, however, he allegedly fraudulently created certificates as proof of dividends to his clients.
Approximately R40 million was allegedly deposited into Dunn’s bank account by potential shareholders.
A warrant of arrest was issued last Friday, 16 October 2020 for his apprehension. He was arrested and charged with fraud and theft at his residence in Melville on Saturday.
He was granted bail of R20 000 and the case is postponed to 18 November 2020 for further investigation.
