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Disgraced East London businessman and convicted fraudster Henry Louis Fourie Schreuder was dealt another blow this morning when a magistrate ruled in favour of the Asset Forfeiture Unit.
The AFU brought forward a confiscation application in the East London Magistrate's Court yesterday to recoup R9.9-million from Schreuder.
The money is in the form of assets both Schreuder and members of his family own. This include two vehicles, a house and R100 000 worth of bail money.
The AFU will now launch a forfeiture application with the high court.
Schreuder was convicted of 779 counts of fraud in July, when he was found guilty in the regional court of defrauding his employer Floorworx Africa (Pty) Ltd, of R70-million.