Witness tells court he had contact with Modack to collect money from asset manager after bad investment
A State witness has testified he was in direct contact with alleged underworld crime boss, Nafiz Modack, to collect money from an asset manager after a botched investment.
Nafiz Modack (left, in blue jacket and his 14 co-accused appeared in the Western Cape High Court on 8 May 2024. Picture: Carlo Petersen/Eyewitness News
CAPE TOWN - A State witness has testified he was in direct contact with alleged underworld crime boss, Nafiz Modack, to collect money from an asset manager after a botched investment.
The witness, Shanil Maharaj, said he invested R545,000 with another State witness, who can only be identified as "Mister C", in 2018.
Maharaj admitted that Modack attempted to get the funds back from Mister C after the money was lost following various high-risk investments.
Maharaj told the court that Mister C promised to pay back the money but after six months of excuses, he eventually turned to Modack for help.
He said that a business associate put him in contact with Modack.
Earlier this week, Mister C implicated one of Modack's co-accused, Jacques Cronje, for kidnapping, intimidation and extortion.
Mister C testified that Cronje held him against his will at a hotel in Century City before threatening him to agree to pay back the money.
He said that after enduring numerous death threats from both Cronje and Maharaj, he sought legal assistance from criminal attorney, William Booth.
The trial continues.