Murdered businessman owed loan sharks millions

Two suspects have been taken in for questioning in connection with the murder of KZN businessman Morgan Naidoo, who allegedly owed moneylenders almost R4 million.

Durban - Two suspects have been taken in for questioning in connection with the murder of local businessman Morgan Naidoo.

A police source who spoke to the Daily News on condition that his name not be published, confirmed that the suspects, who were known to Naidoo and are moneylenders in Pietermaritzburg, were taken in for questioning on Wednesday, however no arrests have yet been made.

According to the source, the men taken in for questioning may hold vital answers to Naidoo’s whereabouts after he went missing on March 3.

Naidoo had last spoken to his wife at 11:45am but failed to return to his Hayfields home.

When his wife tried to contact him, his cellphone was switched off.

A frantic search for the 44-year-old father of two then ensued.

Naidoo’s body was found four days later on Monday morning at the Lynnfield Park off-ramp on the N3. His hands and legs were bound with duct tape, he was blindfolded, and he had been shot three times.

According to the police source, Naidoo was last seen alive at the ABSA bank in Chatterton Road where he apparently withdrew R4 000.

The source said investigations revealed that Naidoo was in heavy debt, and owed various local moneylenders almost R4 million. This avenue of investigation is what detectives are now working on.

Naidoo was a family man and a successful businessman. He was the owner of the Alexandra Road Superette and also owned several pharmacies in Pietermaritzburg and surrounding areas.

Police investigations continue.

Daily News