Plett businessman forfeits R13m to the state

A DUTCH national with permanent residency in the country has been convicted and sentenced for fraud in the Bellville Commercial Crimes Court.

- ROBIN-LEE FRANCKE

Martin Lennard Korver, 59, from Plettenberg Bay, was convicted of fraud in the amount of R6.8 million and theft in the amount of R4 million. The total amount of loss was R10.9 million.

He entered into a plea and sentencing agreement with the State, where he confessed to his crimes.

The complainants in his case were Gustav Schaefer and Jan Eberhard Schliemann, directors of Cobow (Pty) Ltd and Korevest Investments Group (Pty) Ltd, based in Somerset West.

Korevest Investments Group (Pty) Ltd is a 100% shareholder in Cobow (Pty) Ltd, and the latter conducts the business of a guesthouse in Somerset West. The court heard Korver was a director of the two companies until his resignation on August 16, 2016. He and the complainants were in control of both companies’ financial and banking affairs.

Korver was also the sole director of Korevest Leisure Group B.V., based in the Netherlands. Korevest Leisure is a 47% shareholder in Korevest Investments Group (Pty) Ltd, while the Schliemann Family trust holds 28% and the Finserf Foundation 25%.

In November 2013, Korver opened bank accounts with Investec South Africa on behalf of the two companies. The bank accounts were linked to his personal bank account without the knowledge and/or consent of the complainants, as this was done before their involvement.

During May and June 2015, he opened a call deposit account and a loan account on behalf of Korevest Investments Group (Pty) Ltd with the Investec Bank of Mauritius.