Eugene Ettiene Rossouw (37) appeared before the Bloemfontein Magistrate’s Court on Tuesday, 09 March 2021, where he was convicted and sentenced for a gold coin fraudulent investment scheme.
His conviction emanates from the incident which took place on Tuesday, 20 April 2010 where the complainant was contacted by Rossouw with regards to investments of gold coins. Rossouw told the complainant that he started his own gold coin investment business. He then convinced the complainant to invest in his company in December 2010.
From 2011 to 2014 the complainant invested further gold coins on a regular basis into the scheme with the hope of getting more returns. In June 2015, the complainant needed money and decided to withdraw from the scheme. Rossouw promised the complainant on several occasions that the coins will be returned via a courier company but he failed to do so.
After it became clear that Rossouw couldn’t keep his promise the complainant then reported the matter to the police and the case was handed over to the Hawks’ Serious Commercial Crime Investigation team in Bloemfontein. As a result of the fraudulent activities, the complainant suffered a total loss of R311 700-00.
On Thursday,10 September 2020 Rossouw was served with summonses in Cape Town to appear before the Bloemfontein Magistrate Court. He appeared in court on several occasions culminating in his recent conviction. Rossouw was convicted and sentenced to 5 years imprisonment which is suspended for 5 years on the condition that he refund the amount of R311 700-00 on a monthly installment of R5000 on or before 31 January 2026.