A woman who ran an illegal money-lending business was found guilty of 72 counts of violating the National Credit Act (NCA).
|||Cape Town - A woman who ran an illegal money-lending business was found guilty of 72 counts of violating the National Credit Act (NCA) by the Bellville Specialised Commercial Crime Court on Friday.
Sellina Ndube used bank credit and debit cards, and ATM access cards, to recover money owed to her.
Magistrate Sabrina Sonnenberg also found Ndube guilty of providing financial services without a licence - a contravention of the Financial Advisory and Intermediary Services Act.
Prosecutor Tracey Bellelie withdrew similar charges against Ndube's sister Nomendu and a third accused, Nomonde Dyasi.
Prior to the promulgation of the NCA in 2005, it was common practice for short-term money lenders to retain bank cards and ATM access cards as security for loans.
Borrowers were also obliged to surrender their bank card pin numbers, in order to obtain the money.
Ndube pleaded guilty on Friday.
Sabelo Noxaka, for Ndube, read her plea explanation to the court.
The illegal loans were made in 2010 and 2011. They involved two amounts of R2000 and 70 ranging between R100 and R300.
Ndube, who was out on warning, was ordered to return to court on July 17 for the start of sentencing proceedings. - Sapa