The Gqeberha Specialised Commercial Crimes court convicted Gregory Gavin Ferguson (53) on 13 October 2023 for fraud charges. The Gqeberha-based Serious Commercial Crime Investigation (SCCI) team of the Hawks has been applauded by the Provincial Head of the Hawks, Major General Mboiki Obed Ngwenya, for the incredible effort in securing the conviction of the accused person.
According to police spokesperson, Warrant Officer Ndiphiwe Mhlakuvana, between August 2005 and February 2011, Ferguson was a company co-director of Cob Creek Estate Pty Ltd, which was duly registered with the registrar of companies. The reports divulged that the company was established to develop a residential Golf Estate in Kabeljous River, Jeffrey’s Bay.
“Ferguson reportedly to be the only signatory on the company’s bank account. Moreover, he was reportedly the only person with access to the account via internet banking. “The reports further revealed that Ferguson was a sole director in various other registered companies that never had business with Cob Creek,” said Ndiphiwe Mhlakuvana.
“Further revelations exposed that Ferguson intentionally persuaded investors to invest in the project without the knowledge of his two (2) co-directors.
“The development never materialised; Ferguson intentionally used the money for personal gain. The accused was also promised to be a shareholder at Cob Creek Company. The auditors picked some discrepancies and referred the matter to the Hawks for probing,” Ndiphiwe Mhlakuvana added.
The investigation revealed that investors were actually prejudiced against an amount of over R4.4 million.
Ndiphiwe Mhlakuvana further added,”The investigation team of the Hawks ultimately arrested Ferguson on 20 December 2016, and he appeared at Gqeberha’s Specialised Commercial Crimes court on the same day, then later released on a warning.”
Ferguson made several court appearances until his conviction by the Gqeberha Specialised Commercial Crimes court on 13 October 2023.
The matter was remanded to 31 January 2024 for sentencing.
