Almost 20 years later, fraudster brothers feel the long arm of ...

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Almost 20 years later, fraudster brothers feel the long arm of the law

240 court appearances later, two KZN brothers who swindled more than 350 people are finally paying the price

Journalist

Eighteen years after they were arrested, and 10 years after their criminal trial began, brothers Pieter and Louis Henderson have been sent to prison for fraud and theft involving more than R6m, in what was labelled as a Ponzi scheme.

Pieter Henderson, 57, who lived on the KwaZulu-Natal south coast, was sentenced to an effective 15 years in prison, and his brother Louis, 54, who lived in Ballito, to an effective 12 years. The sentence was imposed by Durban Commercial Crime Court magistrate Sitembiso Maphumulo late last month, after a marathon trial in which they appeared in court on more than 240 occasions.

The brothers were running the scheme from an office in Durban’s CBD under the name of Forex International, which was shut down by the SA Reserve Bank in 2002 when “investors”, including pensioners, cried foul...

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