American Couple Denied Bail in $700-Million Fraud Case
JOHANNESBURG, South Africa — A court denied bail Friday to an American couple accused of attempting to defraud a South African bank of $700 million.
Harold Thomas, 61, and Caroline Thomas, 60, of Hackensack, N.J., have denied any wrongdoing and say profits would have been used to rebuild the South African economy.
A banker, Quentin Booysen, said the couple promised him money and a Lamborghini sports car if he guaranteed millions of dollars for the purchase of international debentures.
Booysen, 25, was convicted of fraud and is serving an 18-year sentence. The Thomases were arrested Feb. 3.
Booysen, who worked at a small branch of Nedbank, said Caroline Thomas approached him last August and told him a friend in Madagascar, who had $100 million, wanted to buy the bonds.
Booysen said he sent Nedbank telexes guaranteeing the sum to seven banks around the world. The banks were asked to send an invoice proving the deal had been completed. None ever replied.
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