Momentum Financial Advisor Faces Charges in Multi-Million Rand Fraud Case
In a significant development, the Directorate for Priority Crimes Investigations, commonly known as the Hawks, apprehended Shaun Kenneth Dorning, a 49-year-old financial advisor associated with Momentum Group Limited. The arrest stems from a staggering 30 counts of fraud amounting to over R4.7 million. Dorning, who served as an independent contractor for Momentum, faced allegations of canvassing and procuring applications for policies and products on behalf of clients. Notably, he assumed the role of a Financial Advisor for Aristopix PTY LTD during his tenure. In 2020, Aristopix directors reportedly approached Dorning, seeking a payment holiday on their investments with Momentum. According to Captain Yolisa Mgolodela, the Hawks spokesperson, Dorning advised Aristopix to modify the payment method to cash, as opposed to the initial debit order. Astonishingly, the directors of Aristopix accepted this advice. The situation took a fraudulent turn when Dorning allegedl...