Shaun Kenneth Dorning Financial Advisor Faces Fraud Charges in scam

Shaun Kenneth Dorning, 49, faces charges of fraud exceeding R4.7 million acting as an independent contractor for Momentum.

he also served as a Financial Advisor for Aristopix PTY LTD. In 2020,  Aristopix sought a payment holiday on investments with Momentum, a  request allegedly facilitated by Dorning.

He advised a change in payment method to cash, misrepresenting the bank account details

Subsequently, more than R4.2 million was paid to the insurer, purportedly belonging to Momentum.

However, when Aristopix filed a claim with Momentum, it was revealed that no investments had been made.

The total prejudice, including interest, was estimated at over R4.7 million

Dorning was granted bail after appearing in the East London Magistrate’s Court, with the case adjourned to December 7.