Attempt to defraud Absa bank of R500 million – 3 convicted

South African Police Service

Attempt to defraud Absa bank of R500 million – 3 convicted
Attempt to defraud Absa bank of R500 million - 3 convicted

Three accused Goci Nwabisa (31), Tshepo Daniel Sehlapelo (29) and Lifty Nkabe Makalela (43) have been convicted by the Mokopane Regional Court for attempting to defraud Absa bank of more than R500 million.

The bail privileges of the trio have been withdrawn pending their sentencing after being found guilty on Thursday for fraud and contravening Sec 18 (1) of Identification Act 68 of 1997.

Nwabisa, Sehlapelo and Aaron Madanda (42) approached Absa bank consultant in Burgersfort purporting to be the signatories of Royal Bafokeng Trust fund. They were scheming to open a separate bank account, using fraudulent identity documents to transfer funds from the Royal Bafokeng Trust Fund into new account.

Suspecting that something was amiss, the bank consultant reported the matter to the authorities and Nwabisa, Sehlapelo and Madanda were arrested on the spot. It was later discovered that there was a fourth suspect, Lifty Nkabe Makalela (43) who was believed to be the mastermind behind the attempted fraud.

He was later arrested at his home in Alexandra (Johannesburg) following an intensive investigation by the Hawks Commercial Investigation.

Nwabisa, Sehlapelo, and Makalela were granted bail after appearing several times in the Praktiseer Magistrate’s Court except for Madanda who is currently serving a jail term for another similar but unrelated fraud that he had committed.

Due to the automatic withdrawal of their bail when they were found guilty, the court has remanded them in police custody until 20 August 2020 for another bail extension application.

The sentence hearing will be heard on 28 August 2020, whilst Madanda’s trial on the same matter will commence on 18 August 2020.

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South Africa Today – South Africa News

SOURCESouth African Police Service