| 2024/11/27 |
|
Media Statement
KWAZULU-NATAL – On Tuesday, 26 November 2024, the Pietermaritzburg Magistrates Court sentenced Fast Solutions Cash Loans to a total of R40 000-00 fine on 119 counts of contravention of section 133 read with Section 90(2)(i) of the National Credit Regulator Act 34 of 2005. Of this amount, R20 000-00 was wholly suspended for three years on condition that the company is not convicted of the same offence during the period of suspension. The conviction and sentencing of Fast Solutions Cash Loans came after an extensive investigation by the Pietermaritzburg Serious Commercial Investigation of the Hawks. The investigation was initiated following a complaint from the National Credit Regulator. Upon searching the company’s premises located on Church Street in Pietermaritzburg, various bank cards, identity cards, driver’s licenses, a laptop and a card machine were seized for further investigation. After a thorough investigation, the Hawks members charged Fast Solutions Cash Loans with Contravention of the National Credit Regulator Act. The company was summoned to appear in the Pietermaritzburg Magistrate’s court on 29 August 2024. The accused appeared in court on several occasions until its sentencing on 26 November 2024. In addition to the fines imposed, the court ordered Fast Solutions Cash Loans to pay R7000-00 on the day of sentencing and to make monthly payments of R2500-00 until the full amount of the fine was paid. The KwaZulu-Natal Directorate for Priority Crime Investigation Provincial Head, Major General (Dr) Lesetja Senona welcomed the sentence and further said that this case serves as an important reminder to all companies operating in the financial sector to comply with the relevant laws and regulations governing their activities. Ends
Enquiries:
X (Twitter): https://twitter.com/SAPoliceService |
|
|
