Yunus Moolla (55) and Fathima Carawan (41) have appeared in the Durban Special Commercial Court for fraud and contravening the Banks Act on Wednesday.
The accused allegedly lured investors to invest in their business of fuel distribution and promised them profit. More than R500 million was invested by different investors. It was later established that the two were running a scam and Hawks investigation ensued.
They were granted R100 000.00 bail each and the case was postponed to 14 February 2017.
Source: South African Police Service.