Mossel Bay couple to be sentenced Thursday for massive fraud

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A Mossel Bay couple accused of defrauding hundreds of people out of millions of rand are due to be sentenced in the Thembalethu Regional Court in George on Thursday.

Graeme and Carolina Minne were convicted in July on charges of fraud and theft, involving an amount of R280m.

The Minne's made promises to more than 500 investors that they would earn 4% interest per month or 65% interest per year on their investments.

However, in seven years the Minne's only once made a profit but continued to collect millions from hopeful investors.

None of the investors received their money back or any interest payments.