Ballito vehicle finance fraud, bank official sentenced

South African Police Service

Ballito vehicle finance fraud, bank official sentenced
Ballito vehicle finance fraud, bank official sentenced

On Monday, 11 October 2021, the Durban Magistrate’s Court convicted and sentenced Kevin Neil Lloyd (42) for eight counts of fraud which happened at Ballito in 2009.

On 13 March 2009, Lloyd who was employed as an official in one of the banks in Durban processed fraudulent vehicle finance applications. The applications involved false pay slips and addresses of the applicants.

The applications were used to apply for vehicle finance in one of the car dealerships in Ballito.

The bank protocol and procedures were not complied with and purchase prices were inflated. As a result, eight luxury vehicles were purchased and the bank suffered a loss of R4 382 000-00.

A case of fraud was reported at Umhlali police station and the case docket was allocated to the Hawks’ Durban Serious Commercial Crime Investigation team for further investigation. Lloyd was arrested in February 2019 and he appeared in court several times until he was sentenced.

Count one to eight were taken as one count for the purpose of sentencing.

Lloyd was sentenced to R200 000-00 fine or five years imprisonment of which R100 000-00 or two years imprisonment which is suspended for five years on condition that he is not convicted of fraud or theft during the period of suspension.

Furthermore, he was sentenced to three years correctional supervision and was declared unfit to possess a firearm.

SAPS Newsroom

SOURCESouth African Police Service