Durban -
Alleged Ponzi scheme boss Prinasen Dhaver, 29, appeared in the Durban Commercial Crime Court on Thursday.
State prosecutor Wendy O’Brien said a forensic report had shown Dhaver had only R2 500 in his account.
The self-proclaimed millionaire ran Innovatech International Solutions which claimed to finance the sale of petroleum products and offered investors a high return on their investments.
He was charged for contravening the Banks Act last year.
O’Brien said the Reserve Bank had appointed liquidators because Dhaver had no money to pay his investors.
“He in fact has only R2 500 in his account,” she said in court.
O’Brien placed on record that the investigating officer had seen e-mails from the accused to his investors, who are State witnesses, telling them the State had a weak case and charges would be withdrawn on June 25 after which he would pay them.
This amounted to interference with the investigation and witnesses.
The case was adjourned to July 29 for more investigation.
Sunday Tribune