Kirstie Paulse
A 54-year-old woman who was duped out of more than R4.7 million rand by a Gqeberha investment company says she hasn't gotten a single cent back.
Cornelia Reitz testified in the case of 33-year-old Michael Rathbone and his 31-year-old husband, Leon Lewitton at the Specialised Commercial Crimes Court on Tuesday.
The pair were arrested in November 2019, for allegedly illegally operating their company known as Helping Hands Investment (HHI) between June 2016 and July 2019.
Reitz, who lives in George, is currently unemployed and appeared visibly upset during her testimony.
She said she retired from the South African National Defence Force (SANDF) in 2018 after 28 years of service and used her pension money to invest in the company.
Reitz told the court that she made at least eight payments to HHI between October 2017 and March 2019.
The court heard that she was told about them by a representative of Stock Market College (SMC) - which sells online trading courses.
"I was interested in stock trading, and after meeting with the man, he told me that I can invest with Helping Hands."
According to Reitz, she had several meetings with the man who later introduced her to Rathbone before she made her first investment.
"They said my money would be used at auctions to buy vehicles, buildings, and medical equipment, like x-ray machines which then would be sold at a higher price."
Several payments were then made into HHI's bank account, which was invested for different periods ranging from 24, 60, 72, and 120 months.
She became emotional when mentioning that she invested money for her old age.
"I also opened accounts for four children who are being raised by single mothers. The money was going to be used for the education."
Reitz admitted later on the stand that she was aware that Helping Hands Investments was not registered with the Financial Services Board (FSB).
During cross-examination, defence Advocate, Alwyn Griebenow, said it was his instruction that Reitz would have received her first payout that was due last year had it not been for the bad publicity, the police's investigation and the court case.
Rathbone and Lewitton face more than 190 charges, including fraud and theft
According to the Hawks, they defrauded their clients out of more than R17 million after promising return rates of between 15 and 45 per cent per annum.
They are out on bail of R50 000 each.
The trial continues.
