Stolen: Cannondale Supersix EVO - High Mod 2017 (Cape Town)

[gummibear]

How much did CC pay for the bike? I am just curious

Hopefully a big sum [emoji106][emoji106]

[MORNE]

That’s awesome and I hope CC paid the seller a good price so a big loss to them.

 

Any idea who sold it to them?

They should have all the info, but chances are it’s all fake.

[Pure Savage]

Speaking of which, it will great when the Ferrari and Aston dealerships in Sandton start getting asked about the due diligence they do when somebody walks in and buys 5 cars with a bag of cash.

It is strange, I know the Merc dealership in Stellies does comply with all the money laundering checks etc.

[Pure Savage]

Do what I did...call your insurance company and say you've recovered the bike (which, if you've been paid out, now belongs to them) and then you can offer them something for the bike. They'll take just about anything (like 2k). I think I offered them 3k for a mountain bike that they'd paid out 20k+ for and they accepted (then wondered if I should have offered them less!).

Thanks, I will chat to my investigating officer when we drive to CC together today

[Pure Savage]

They should have all the info, but chances are it’s all fake.

My feeling as well. 

[GhostSixFour]

It was taken as security of a loan. Was on the shop floor for R18k so must have been less than that I am guessing.

So that's how they do it. Bring in valuable items that have been stolen as "security" then default on the loan.

 

Wonder if there is less checks when they do it that way? Also, allows them to get the money, whilst your item isn't in the store front immediately when you go and check, as there is a time period that they allow before they are allowed to sell your items.

[MORNE]

Remember to take a selfie with the store manager....

 

[The Ouzo]

It is strange, I know the Merc dealership in Stellies does comply with all the money laundering checks etc.

legally any cash or EFT payments over a certain amount should have all the checks done, but if the buyer lies on those checks there is not much a dealership can do about it, the checks get done and reported.

[Pure Savage]

 

Bike is now in police custody. 

 

I have to now go in and give a statement that its my bike. 

 

I have found all the invoices for all the parts on bike, the original invoice is a written one as the shop computer died the month I bought the bike.

 

I will probably have to get an avidavit from my LBS that the serviced the bike for  4 years.

[Pure Savage]

WhatsApp Image 2020-10-27 at 12.51.08.jpeg

 

Bike is now in police custody. 

 

I have to now go in and give a statement that its my bike. 

 

I have found all the invoices for all the parts on bike, the original invoice is a written one as the shop computer died the month I bought the bike.

 

I will probably have to get an avidavit from my LBS that the serviced the bike for  4 years.

Going to have to write a whole blog post about all this saga. 

 

I can 100% see why crime pays though, it is ALOT of effort to report the thing, get in contact with insurance company, get investigating officer to come out. Etc Etc

[MORNE]

And store managers smug face after yesterday?

 

Edit: alot of effort yes, but still a victory though. Good on you for following through.

Edited October 27, 2020 by morneS555

[GhostSixFour]

Went and checked their website, it seems that you can apply for a loan up to R15k online, and although I didn't complete the process, I wasn't even asked for a ID number. It seems that you then just go and drop off the item and get the cash. Then they sell your item if you didn't pay back the loan within 30 days.

 

You need an ID when selling to them though, so these fsckers have figured it out.

[Bateleur1]

Went and checked their website, it seems that you can apply for a loan up to R15k online, and although I didn't complete the process, I wasn't even asked for a ID number. It seems that you then just go and drop off the item and get the cash. Then they sell your item if you didn't pay back the loan within 30 days.

 

You need an ID when selling to them though, so these fsckers have figured it out.

 

Wonder how this practice is alligend with the National Credit Act.  Might be of interrest to them.

[DieselnDust]

so shut down the CC LoanShark and the supply chain needs to evolve in another direction. That should slow things down and hopefully allow the cops to catch up to few fencers

[Pure Savage]

Went and checked their website, it seems that you can apply for a loan up to R15k online, and although I didn't complete the process, I wasn't even asked for a ID number. It seems that you then just go and drop off the item and get the cash. Then they sell your item if you didn't pay back the loan within 30 days.

 

You need an ID when selling to them though, so these fsckers have figured it out.

There is an ID required when you go to the store. Although those are easily forged apparently.

[Pure Savage]

And store managers smug face after yesterday?

 

Edit: alot of effort yes, but still a victory though. Good on you for following through.

He was actually rather friendly. Although there was another member of staff that I think posted the facebook advert that was not happy with me, the police or the investigator. 

 

I now have to get all the invoices I have for the bike, print them and take them and post a statement.