Jailed fraudster in more hot water

A PORT Elizabeth man serving a 10-year sentence for fraud has been charged with additional counts of fraud and theft after allegedly pretending to sell flats at the Allan Hendrickse complex in Korsten and then pocketing more than R200 000.

Shirwin Shuster, 42, of Holland Park, made a brief appearance in the Port Elizabeth Commercial Crimes Court yesterday where his case was postponed to March 11.

According to the charge sheet, Shuster had brokered the sale of various flats and then requested the purchasers to advance payment to him for transfer costs and the purchase price.

However, the owners of the flats had not mandated Shuster to sell the properties.

He allegedly also misappropriated funds entrusted to him to open a trust fund.

Shuster is already serving a sentence after enticing clients to invest in his business, Lexroc Development.

He pretended it was an international investment company which guaranteed returns between February 2005 and April 2007.

Investors lost R537 941

-Lee-Anne Butler

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