Insurance advisor pleads guilty to R2 million fraud

News South Africa

Tebogo Msimanga |

A former financial advisor, Stephanus Johannes Janse Van Rensburg (68), pleaded guilty at the Port Elizabeth Specialised Commercial Crimes Court on Tuesday to nine counts of theft which amount to R1,8m. Janse Van Rensburg was arrested by the Hawks on 08 February 2021.

Between July 2008 and March 2015, Janse van Rensburg sold nine Old Mutual and Momentum second-hand policies to his client Esther Freesia Adendorff. Adendorff is now deceased. The accused was Adendorff’s financial broker.

Eastern Cape National Prosecuting Authority (NPA) Spokesperson Anelisa Ngcakani said Van Rensburg convinced Andedorff to buy existing policies of third parties. “This meant that she would become the new owner to whom the claim would be transferred.”

Ngcakani added that Van Rensburg convinced Adendorff to sign the cessionary agreements and to pay over the agreed amounts. She made 15 payments in total from July 2008 to October 2011 which totalled R1,8m.

“On 27 May 2015, Adendorff’s son, Ralph, made numerous requests for copies of documents related to the policies but Van Rensburg failed to provide the documents.” It was discovered that the Old Mutual and Momentum policies were never transferred or registered in the name of Adendorff nor did the policies ever belong to the particular individuals as Van Rensburg had informed Adendorff.

The prosecutor, Senior State Advocate Lise Keech, accepted the guilty plea and Magistrate Nolitha Bara found Van Rensburg guilty of theft. The case is postponed to 4 October 2021 for sentencing.

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