Police investigations against Steve Pinky Mnguni, who also uses the name Mahlangu began in 2008. Mnguni had a company called Westside Group Holdings, which under it had 20 subsidiaries. Using one of the subsidiaries, Mnguni allegedly distributed pamphlets in Gauteng, in which he claimed to have been awarded a tender to supply coal to Eskom.
He allegedly lured unsuspecting members of the public to invest in a trucking business. These trucks he allegedly claimed, were going to be used for the transportation of the coal. Our investigation has determined that Eskom never awarded a tender Mr Mnguni.
Mr Mnguni also allegedly ran a parallel scam, in which he claimed to have been selling shares belonging to PSG at the Johannesburg Stock Exchange. Again, our investigation led us to PSG. Through liaising with the company, we established that Mr Mnguni has never been their consultant.
Mnguni also went and was interviewed by Ikwekwezi FM in Pretoria, where he got an opportunity to sell his businesses. In November 2009, the Hawks obtained a warrant of arrest for Mr Mnguni. In February last year, Mr Mnguni through his attorney offered to hand himself over to the Hawks. He subsequently disappeared.
Just before 12h00 noon today, 7 January 2010, Mr Mnguni was arrested at Garsfontein Office Park. He was now running a business called Malisedi Holdings. Using this business, he continued with the same “coal supply” scam. An estimated 204 members of the public have allegedly been scammed by Mr Mnguni, during which he has made an estimated R30 million. One individual claims to have invested R10 million in the bogus trucking business.
We suspect that that are a lot more people who have fallen for the scam. We urge members of the public who have been victims of Mr Mnguni’s scam to get in touch with Crime Stop 08600 10111.
Enquiries:
McIntosh Polela
Cell: 082 475 1427 or 079 563 1625
Source: South African Police Service
