05 May 2022
Two loan sharks were found guilty and sentenced by the Masoyi Magistrate’s Court on Wednesday, 04 May 2022 for Contravention of the provisions of Section 133 of the National Credit Act 34 of 2005.
The court sentenced Sibusisiwe Nyundu (35) in the form a fine of R 10 000.00 or 12 months direct imprisonment whilst Baby Miko (42) sentenced to a fine of R 8 000.00 fine or 10 months direct imprisonment.
According to Captain Dineo Lucy Sekgotodi, Baby Miko and Sibusiso Nyundu were sentenced after the arrest which took place during search and seizure operation at Masoyi executed by the Hawks Serious Commercial Crime Investigation team based in Nelspruit together with National Credit Regulators in November 2021.
“The duo was found in possession of bank and SASSA cards which were reportedly taken from the clients when they received cash loan from the loan sharks meanwhile the duo was not registered with the National Credit Regulator and kept kept the cards of their clients as security for monthly payments,” said Captain Sekgotodi explaining the circumstances which lead to the duo’s arrest.