The man police are investigation for selling, but not delivering Krugerrands used to boast about big precious metal deals.
|||Cape Town - Matthys van Tonder, the man who police are investigation for selling, but not delivering Krugerrands, sold over R1 million worth of coins in just three months in 2008, former employee Clinton Wentzel said on Tuesday.
Van Tonder’s Cape Town company, Investments for Life (IFL), specialised in gold and precious metals. It promised safe returns in an uncertain investment climate by letting its clients pay for Krugerrands in monthly instalments.
On Monday the Cape Times reported that Donovan Barnes, 46, from Table View, and Vera Hougaard, 31, from Tokai had paid for their coins but not received them. Barnes opened a case against Van Tonder at the Milnerton police station in July 2012.
Wentzel, 33, from Parow, said he started working for IFL in 2008 after replying to an advert. “I phoned people and made appointments to sell them coins.”
Wentzel said he spent most of the day out of the office visiting clients, while Van Tonder stayed in the company’s offices.
Wentzel said he managed to sell about 90 one-ounce gold coins in the three months he worked there. Based on today’s prices, these coins would be worth about R1.2m.
He said Van Tonder gave him R24 commission for each coin he sold. After three months, he was told he would also get a monthly salary of R5 000, but only if he sold more than 100 coins a month.
Wentzel said some clients ordered coins, but soon ceased to pay the monthly instalments, due to financial difficulties. He said it was uncertain how many of the 90-odd coins he helped sell were paid off in full and how many were delivered to clients.
Wentzel quit the company when he “lost confidence in Van Tonder”, who he said used to boast about important precious metal deals and colossal houses he was building.
In 2008, Wentzel sold five coins to Paul George, who he met through mutual friend Elton Lotriet. George, 38, from Belhar, confirmed the purchase, but said he never received any coins, which would be worth R67 500 today.
George paid R700 a month for 60 months to IFL. “It was basically for my kids for a rainy day,” said George. “It wasn’t always easy to give that money, but in the end you knew you were going to reap the benefits.”
In late 2012, as his investment was nearing maturity, George attempted to contact IFL to check when the five coins would be delivered. But he found IFL premises in Kloof Nek Road closed.
“I didn’t have any contact numbers for Matthys,” said George. “I tried to get hold of him, but no one could help us.”
Anthonie Roussouw, Van Tonder’s father-in-law, said on Tuesday he last saw Van Tonder two or three weeks ago in Cape Town, but couldn’t say where he was at the moment.
All attempts by the Cape Times to contact Van Tonder have been unsuccessful.
Police spokesman Andrè Traut said the case against Van Tonder had been referred to the senior state prosecutor at Cape Town Magistrate’s Court in October last year.
jan.cronje@inl.co.za
Cape Times