TWO LOAN SHARKS FOUND GUILTY AND SENTENCED FOR CONTRAVENTION OF THE NATIONAL CREDIT ACT
MPUMALANGA – Baby Miko (42) and Sibusiso Nyundu (35) were found guilty and sentenced by the Masoyi Magistrate’s Court on Wednesday, 04 May 2022 for Contravention of the provisions of Section 133 of the National Credit Act 34 of 2005.
The sentence followed the arrest which took place during search and seizure operation at Masoyi executed by the Hawks Serious Commercial Crime Investigation team based in Nelspruit together with National Credit Regulators in November 2021.
The accused were found in possession of bank and SASSA cards reportedly taken from the clients when they received cash loan from the loan sharks while they were not registered with the National Credit Regulator. They kept clients cards for securing monthly payments.
The court sentenced Sibusisiwe Nyundu to R 10 000.00 or 12 months direct imprisonment whilst Baby Miko sentenced to R 8 000.00 fine or 10 months direct imprisonment.
Captain Dineo Lucy Sekgotodi
071 481 3493