Martin Ashley Levick is accused of defrauding a family trust out of millions.
A man accused of defrauding a family trust worth millions has appeared in Palm Ridge’s specialist commercial crimes court.
Martin Ashley Levick, 52, was arrested after a warrant was issued by a Johannesburg court earlier this month.
He is accused of defrauding a trust fund of about R300 million in 2017, Hawks spokesman Captain Lloyd Ramowa said.
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“Levick reportedly approached the family and presented a fraudulent investment scheme called Peermont Preferred Stock.” He allegedly stated that the family would reap astronomical profits from offshore investments.
“Of course, this has never happened,” said Ramovga.
Levik allegedly disappeared with the funds, and a fraud case was registered for investigation with the Hawks.
A warrant for Levik’s arrest was issued at the beginning of the month. He was arrested on Monday and appeared in court on Tuesday. He is expected back in court on Thursday for a bail application.
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