Alleged fraudster would have done more harm

2014-12-02 20:18

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Johannesburg - A former Gautrain Management Agency (GMA) employee and fraud accused could have caused more losses had he not been arrested, the Johannesburg Specialised Commercial Crimes Court heard on Tuesday.

"If the accused was not arrested, he could have continued with his fraudulent activities that could have resulted in millions in losses," investigating officer Lieutenant Colonel Reynold Links said in an affidavit read by prosecutor Richard Tshabalala.

Obakeng Israel Busang, 30, an information technology technician, was applying to be released on R2 000 bail. The State is opposing bail.

He faces charges of fraud, corruption, money laundering, and contravention of the Electronic Communication and Transactions Act for allegedly defrauding the GMA and PostBank.

Links said Busang opened a PostBank account, after which at least R260 000 was transferred to it between December 2011 and January 2012.

"The amount was part of the R42m that was fraudulently transferred from PostBank to at least 103 accounts," he said.

Busang increased his daily withdrawal limit to R5 000 prior to withdrawing the cash. His account number had the same residential address as the one he was arrested at in November.

The Hawks and the GMA arrested Busang at his parents' home in Ga-Rankuwa, north of Pretoria, on 12 November.

On the Gautrain case, Links said information was received that an employee had exposed the GMA to a loss of at least R800m.

"The accused loaded spyware onto computers of other employees in order to gain login details and transfer GMA cash from its Absa account."

The usernames and passwords of GMA employees were found on Busang's laptop.

"Video evidence analysed showed he and the syndicate used software to access the system."

Links explained how a USB flash drive was used in the fraud.

"A USB can be used to create a duplicate computer, and can be used from anywhere to access the system, even outside the company premises."

Transactions could be performed on a duplicate computer and would appear as if they were performed from the original one, Links said.

Busang had the potential to commit more fraud if granted bail and did not respect the law, Links said.

"He is now unemployed, has children to support and legal bills to pay... there is a possibility that he could continue defrauding to honour his obligations.

"This is very serious as it affects the country's economy and its citizens," Links said in his affidavit.

Busang had made a statement to police freely upon his arrest.

"I never assaulted the suspect," he said.

Read more on:    postbank  |  gautrain management agency  |  johannesburg  |  fraud  |  crime

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