427 years in jail for cattle scam

A cattleman who duped seasoned farmers has been sentenced to 427 years in jail on 20 counts of theft and six counts of fraud, according to a TimesLIVE report. Cornelius Loggenberg will effectively serve 15 years in prison. This after the court ordered the sentences for the various offences were to run concurrently, resulting in a 25-year term of which 10 years was suspended for five years on condition that he is not convicted of theft or fraud during the period of suspension. He was also, in terms of the Financial Institutions Act, declared unfit to serve as a director, member, partner or manager of any financial institution until the court, on application, rules otherwise. Part of Loggenberg's farming activities was the maintenance of a herd of dairy cattle for milking. During the course of expanding his dairy farming activities, he leased 2 136 Holstein cattle, to the value of R25m, from various farmers. The condition of the contract specified that the ownership of the cattle would remain vested in the farmers (lessors) and that in the event of death or expropriation of cattle, he would substitute the cattle with the cattle of similar stature, breed and age at his expense. Phaladi Shuping, regional spokesperson for the Director of Public Prosecutions, said upon termination of the lease period, Loggenberg was to return cattle of similar type and quality to those hired at the start of the agreements. After initially honouring the agreement, ‘in June 2013 (he) failed to make any payments to any of the complainants', Shuping said. ‘It was discovered that he had sold most of the cattle and utilised the proceeds.' Prosecutor Advocate Jacques Harrington said the accused skilfully convinced the complainants that their herds were thriving under his care, whereas he was using their cattle for his benefit and the farmers suffered severe losses.

– TimesLIVE