Steve Pinky Mnguni and his wife Nadima Leyah Masanabo have appeared in the Pretoria Commercial Crimes Court on charges of fraud and theft. Mnguni’s wife handed herself over to the police, at Brooklyn Police Station this morning. Masanabo has been granted bail of R30 000. The court took into consideration that she has an eleven month old baby, and is currently breastfeeding. Her husband (Mnguni) remains in custody and will appear again on Monday, 17 January 2011.
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 twenty 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 on Friday, 7 January 2010, the Hawks arrested Mr Mnguni at Garsfontein Office Park in Pretoria. He was now running a business called Malisedi Holdings. Using this business, he allegedly 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.
Since Mr Mnguni’s arrest last Friday, several people have come forward. They have lost amounts ranging between R5 000 and R250 000. We urge more members of the public who have been victims of Mr Mnguni’s scam to get in touch with Crime Stop 08600 10111.
Enquiries:
Col McIntosh Polela
Cell: 082 475 1427 or 079 563 1625
Tel: 012 400 6584 / 6579
Source: South African Police Service
