Sandile Mantsoe Sentenced for Fraud in 2016 Investment Scheme
Convicted murderer Sandile Mantsoe has been sentenced to 15 years in prison for his involvement in a fraudulent investment scheme that defrauded over 100 individuals. The ruling came from the Evander regional court on Tuesday.
Mantsoe, who is currently serving a 32-year sentence for the 2018 murder of his girlfriend, Karabo Mokoena, and his company, Trillion Dollar Legacy, were found guilty of swindling a total of R1 million from victims in 2016. The investment scheme involved tricking over 100 people into investing by providing them with fake information about potential returns.
The fraud took place between April and August 2016, and a total of 120 charges were brought against Mantsoe. The investigation into the case was led by the Hawks’ Serious Commercial Crime Investigation unit in Middelburg, Mpumalanga, which uncovered the deceit.
In addition to the prison sentence, Mantsoe was handed several suspended fines as part of his conviction. The court’s ruling included:
A R600,000 fine, suspended for five years, for counts one to 59.
A R20,000 fine, suspended for five years, for count 60.
Another R600,000 fine, suspended for five years, for counts 61 to 119.
A R400,000 fine, suspended for five years, for count 120.
These fines will only be enforced if Mantsoe is found guilty of committing fraud or contravening the relevant acts during the period of suspension.
The sentencing marks another chapter in the legal woes of Mantsoe, who continues to face serious consequences for his actions in both the fraudulent investment scheme and the murder of his girlfriend.