The two accused, Osborne (left) and van der Steen (right)
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Two company directors accused of fraud amounting to R27 million appeared briefly in the Port Elizabeth Magistrates Court this week.
The 50-year-old Timothy van der Steen and the 36-year-old Ryan Peter Osborne are directors of a company called Tag Yacht SA and allegedly misrepresented themselves by promising to build yachts for several complainants.
A spokesperson for the Hawks Lwando Zenzile says between September 2013 and September 2017, the accused took money from clients but never built their yachts.
He says according to the State, they did this, knowing that their business was bankrupt.
The Hawks Commercial Crime Investigation has revealed that Van der Steen and Osborne allegedly cost the complainants over R 27 million through fraudulent means.
Zenzile says a further investigation revealed that Van der Steen and Osborn’s business was a shell company and these two fraudsters were the only employees.
Both men were granted bail of R2 000 and ordered to hand over their passports.
