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69-Year-Old Loses $1M in Scam, Bank Denies Fraud

5/20/2025

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Summary

Story summary

At 69, Steven Fan from Kerikeri saw his life savings vanish in a devastating $1 million investment scam. Despite his pleas, TSB Bank stood firm, denying an independent review by the Banking Ombudsman, insisting no fraud was evident. Meanwhile, Carel Viljoen faces justice, convicted of money laundering tied to this heart-wrenching case.

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Story summary

At 69, Steven Fan from Kerikeri saw his life savings vanish in a devastating $1 million investment scam. Despite his pleas, TSB Bank stood firm, denying an independent review by the Banking Ombudsman, insisting no fraud was evident. Meanwhile, Carel Viljoen faces justice, convicted of money laundering tied to this heart-wrenching case.