The Hawks have revealed the nature of one of the scams run by Mr Fouché in the past.
The scam apparently involved finding distressed home owners and offering them “help” or ‘debt rescue’ by linking them with investors for their homes.
The mark (victim) is told that they can temporarily ‘sell’ their home to investors, with the option to buy it back after 7 years. They are told that the investors will get a new bond on the property and pay the bond each month. This way the property is kept safe.
During this time, the former destressed homeowners are told they can rent their own home for a lesser amount each month (that way they save, and the asset is safe). Then after 7 years they can either sell the house together and make a profit or if they have more funds available at the time they can work out a deal to pay out the investors.
Seems like a nice idea and is similar to actual services offered by some.
But after the deal is set up and papers signed and new debit order set up etc, when the victims paid rent to one of Mr Fouché’s business accounts (intended for the investors) surprise, surprise Mr Fouché failed to pay the bank and didn’t tell them.
The banks eventually got upset and after a number of months they would initiate legal action and in the end would auction off the homes.