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Cob Creek Boss to appear for R8 Million fraud

Fraud Alert:

Sold with promises of becoming the wine centre of the Eastern Cape, the businessman behind the much-anticipated Cob Creek Estate in Jeffreys Bay will appear in court today after his funds – as well as his grapes – dried up.

Greg Ferguson, 42, faces fraud and theft charges totalling almost R8-million, after he convinced a string of businessmen to invest in the residential golf estate, wine farm and restaurant, and then allegedly misappropriated the funds.

It is further alleged that he went behind his business partners’ backs to sell off some of Cob Creek’s shares. In addition, between March 2008 and February 2011, he allegedly stole more than R6-million from Cob Creek’s business account…

MORE: Businessman to appear for R8m fraud – HeraldLIVE