A Durban man who helped two businessmen secure more than R1.1 million in vehicle finance using fraudulent salary documents has been sentenced to five years in prison, as authorities continue to search for a luxury Porsche linked to the scheme.
Munsamy Padayachee, 60, pleaded guilty to two counts of vehicle finance fraud after signing agreements to purchase a Porsche Cayenne and a Volkswagen Golf 7 R-Line in 2020. The vehicles were allegedly acquired on behalf of two businessmen who later took possession of both cars.
The Volkswagen Golf 7 R-Line has since been recovered, but the Porsche Cayenne Diesel Tiptronic, valued at R549,000, remains missing.
Padayachee was sentenced by the Durban Regional Court in November 2025. He was arrested in April 2021.
How the R1.1 million vehicle finance fraud unfolded
The court heard that Padayachee was seeking employment after being discharged from a rehabilitation facility for alcohol addiction when two men offered him work as a driver and general assistant.
According to his plea statement, the men promised him a salary and accommodation at their premises in Durban. He said they introduced themselves as brothers.
Padayachee handed one of the men his identity document, believing it would be used to register him for the Unemployment Insurance Fund (UIF). He was later taken to an Absa branch in Verulam, where a bank account was opened in his name.
He told the court that the men kept his bank cards and controlled the money in the account, giving him funds for his living expenses.
Padayachee said he agreed to the arrangement because the men assured him they would manage the money responsibly.
Fake salary documents used to secure vehicle finance
In February 2020, the two businessmen allegedly told Padayachee they planned to establish a luxury car rental business and needed his assistance to obtain vehicles through finance agreements.
He said they claimed they could not qualify for hire-purchase finance because they were foreign nationals, and therefore wanted to use his name to apply for credit.
The applications relied on bank statements and salary advice indicating that Padayachee worked as an area manager earning R39,000 a month.
The documents were fraudulent, according to his admissions in court.
Porsche Cayenne financed through Standard Bank
Padayachee was taken to a dealership in Durban, where he applied for finance through Standard Bank to purchase a Porsche Cayenne Diesel Tiptronic valued at R549,000.
The application was approved in March 2020, and the two men took delivery of the vehicle.
Volkswagen Golf 7 R-Line financed through Absa
In March 2020, Padayachee applied for a second vehicle finance agreement through Absa to purchase a Volkswagen Golf 7 R-Line valued at R577,000.
He said he signed the necessary paperwork at a dealership in Anton Lembede Street and posed for a photograph with the vehicle after delivery.
The combined value of the two vehicles was R1.126 million.
Employee promised extra R10,000 a month
In his plea statement, Padayachee said he participated in the arrangement after being promised an additional R10,000 per month once the luxury car rental business became successful.
He maintained that the men assured him they would be responsible for paying the monthly instalments and that his name was being used because they could not obtain vehicle finance themselves.
However, Padayachee acknowledged that he knowingly allowed the men to use his identity document to apply for finance despite knowing that he did not meet the qualifying requirements.
He admitted that by signing the finance and delivery documents, he helped mislead the banks into believing the information submitted with the applications was accurate.
The men allegedly took possession of the vehicles, after which Padayachee said he never saw either car again and did not know where they had been taken.
The two businessmen have not been charged in connection with the scheme, according to the report, and cannot be named.
Golf 7 recovered, but Porsche remains missing
Prosecutor Surekha Marimuthu told the court that the Volkswagen Golf 7 R-Line was recovered in February.
The Porsche Cayenne, valued at R549,000 when it was purchased, remains unaccounted for.
The recovery of the Golf represents progress in tracing vehicles linked to the alleged fraud, but the whereabouts of the Porsche remain unknown.
The case highlights how fraudulent employment and salary information can be used to obtain vehicle finance, leaving financial institutions exposed when financed assets disappear.
