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IOL News reports that a former Chief Financial Officer at Riskfin has been released on bail after he was arrested for alleged fraud to the tune of R91 million.
Willem Venter, 41, from Garsfontein, was released on Friday by the Pretoria Magistrate's Court on R80,000 bail. According to the National Prosecuting Authority (NPA) spokesperson Lumka Mahanjana, Venter's alleged fraudulent activities in 2024 and 2025 were executed through a modus operandi that targeted multiple clients seeking financial services. "He allegedly offered clients financial services, and once agreements were concluded, they transferred funds to him. However, Venter failed to render the agreed services and did not refund the clients. It is further alleged that he transferred company funds into his personal bank account.
After the complainants alerted the company director, the matter was reported to the police," Mahanjana reported. Venter was arrested at his residence and made his first court appearance on 24 November 2025. The matter was postponed to 21 February 2026 for further investigation.
- Read the full original of the report in the above regard by Sinenhlanhla Masilela at IOL News
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