A 56-year-old was convicted on 29 counts of fraud after authorities discovered that he misappropriated R5.4 million from several insolvent estates.
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Bernard Gutman appeared in the Bellville Specialised Commercial Crimes Court on Thursday for fraud and money laundering charges.
Lieutenant Colonel Siyabulela Vukubi of the South African Police Service says the Master of the High Court appointed the accused as an insolvency practitioner to deal with the administration of several insolvent estates.
It is alleged that he misappropriated funds to the tune of R5 448 762.20 between 2001 and 2005.
He was found guilty of 29 counts of fraud, including one count of money laundering, in terms of Section 4 of the Prevention of Organised Crime Act and acquitted on four counts of fraud.
He will be sentenced on 27 February.
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