It was about R1.2 million that I invested… It was money collected when my wife passed away in 2009, I lost my baby as well…— Laurence Upton
Frustration, anger… there’s a 91-year-old. There are people in hospital who rely on this money to survive…— Laurence Upton
His victims were mostly older people.
Stringfellow told them that the stock market was about to crash and that he can keep their money safe.
He promised them returns of 14% a year, paid out monthly, to invest in Australian sportswear firm Lorna Jane’s South African stores which he ran.
All Lorna Jane's SA stores have since closed.
His firm, Stringfellow Group, is a respected, award-winning fund manager.
Whitfield interviewed Laurence Upton, an investor who fell prey to Stringfellow.
Listen to the audio below in which Upton tells the sad story (and scroll down for more quotes from it).
My mother worked for him for a number of years… Subsequently, I got to know him… he was [so he thought] a very trustworthy guy…— Laurence Upton
Thomas was arrested… he goes to prison… they set the bail hearing… he lost three houses, all his cars… the bail is set at R20 000, which is ludicrous!— Laurence Upton
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