Former Chief Financial Officer of Riskfin, Willem Venter, 40, from Garsfontein, has been granted bail of R80 000 by the Pretoria Magistrates’ Court.
Venter who is linked to a Zambian national was categorised as a flight risker by Prosecutor Chris Maruma.
It is alleged that between 2024 and 2025, the accused used the same modus operandi to defraud multiple clients. He allegedly offered clients financial services, and once agreements were concluded, they transferred funds to him.
However, Venter failed to render the agreed services and did not refund the clients. It is further alleged that he transferred company funds into his personal bank account.
After the complainants alerted the company director, the matter was reported to the police. Following investigations, Venter was arrested at his residence and made his first court appearance on 24 November 2025.
The National Prosecuting Authourity (NPA) spokesperson, Lumka Mahanjana indicated that during the bail application, Prosecutor Chris Maruma opposed the accused’s release because he is a flight risk, as he is married to a Zambian national and disclosed only one passport in his affidavit despite having two.
“It was also submitted that one complainant had reported interference with a witness after the case was opened. However, the Magistrate found that exceptional circumstances existed that justified granting bail.”
The matter was postponed to 21 February 2026 for further investigation.
