Just Properties Table View employee face over 400 fraud charges worth R5.5 million! A Cape Town real estate employee, Riaan Theunissen, appeared in the Cape Town Magistrate’s Court on Thursday to face over 400 charges of fraud.
Theunissen, 36, is accused of defrauding his employer, Just Properties, based in Table View, of an estimated R5.5 million.
Hawks Confirm Arrest and Fraud Allegations
The Directorate for Priority Crime Investigation, also known as the Hawks, executed a warrant of arrest for Theunissen prior to his court appearance. Lieutenant Colonel Siyabulela Vukubi, the Hawks’ Western Cape spokesperson, stated that the charges against Theunissen stem from alleged financial misconduct that took place between June 2016 and August 2023.
According to Vukubi, Theunissen allegedly misappropriated funds using the PayProp system, a property payment management platform.
“Theunissen allegedly misappropriated funds from his employer, namely, Just Properties based in Table View from June 2016 to August 2023. He disguised and facilitated irregular payments in the PayProp system’s payments module by archiving certain transactions and not following the company’s approval, payment policies, and procedures,” Vukubi explained.
The Hawks’ Serious Commercial Crime Investigation team led the inquiry, uncovering evidence of irregularities in the company’s financial records. As a result, Theunissen was charged with 461 counts of fraud, amounting to R5,502,000.
Bail Granted with Conditions
Theunissen made a brief appearance in court, where he was granted bail of R30,000 under specific conditions. While details of these conditions were not disclosed, it is common for bail agreements in fraud cases to include restrictions such as the surrender of travel documents, regular reporting to authorities, and prohibitions on contacting witnesses.
The matter has been postponed to February 27, 2025, to set a regional court date. This postponement provides time for both the defense and prosecution to prepare for what is anticipated to be a detailed and complex trial.
Impact on the Property Sector
This case has raised concerns within the property industry regarding internal controls and financial oversight. Experts have pointed to the need for stricter monitoring systems to prevent similar fraudulent activities. Theunissen’s alleged actions have also highlighted vulnerabilities in payment platforms and the importance of adherence to company policies.
Separate Fraud Case Involving Former Johannesburg Mayor
In an unrelated incident, the fraud case against former Johannesburg mayor Kabelo Gwamanda was also addressed in court this week. Gwamanda appeared in the Protea Magistrate’s Court on Tuesday, where his case was postponed to January 28, 2024.
The charges against Gwamanda represent another high-profile legal battle in South Africa. The former community development MMC has faced mounting scrutiny over allegations of financial misconduct during his time in public office.
Dismissal from Mayoral Position
Gwamanda’s legal troubles began earlier this year when Johannesburg’s current mayor, Dada Morero, suspended him amid an internal investigation. Last month, Morero formally dismissed Gwamanda from his position, citing concerns about governance and potential irregularities.
The dismissal marked a significant turn in Johannesburg’s political landscape, as Gwamanda had previously been a key figure in community development initiatives. His removal and the subsequent fraud case have fueled debates about corruption and accountability in municipal governance.
Fraud Cases Underscore Broader Challenges
Both the Theunissen and Gwamanda cases underscore the pervasive issue of fraud and corruption in South Africa. While Theunissen’s case involves fraudulent activities within the private sector, Gwamanda’s case serves as a stark reminder of the challenges facing public institutions.
These cases have drawn attention to the importance of oversight and transparency in both corporate and government settings. As investigations and legal proceedings continue, the outcomes will be closely monitored by the public and industry stakeholders alike.
Conclusion
The allegations against Theunissen and Gwamanda illustrate the wide-reaching impact of fraud on businesses and governance. As the courts deliberate on these matters, they are tasked with delivering justice while sending a clear message about the consequences of financial misconduct.
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