Company director jailed for theft

2012-01-17 20:07
Cape Town - A company director was jailed for six years by a Cape Town court on Tuesday for stealing millions of rands she was supposed to invest for clients.

Heloise Gillian Ann Lundall, 49, was sentenced in plea-bargain proceedings in the Bellville Specialised Commercial Crime Court.

She pleaded guilty to 36 counts of theft before Magistrate Amrith Chabillal.

As the sole director of the investment company, Afcapital (Pty) Ltd, she used investments for herself, amounting to more than R4m over four years.

Prosecutor Jannie Knipe listed as aggravating the fact that theft and fraud involving huge amounts were common in the court's jurisdiction.

Lundall had had ample time to reflect on her conduct and stop, instead of continuing for four years until she was caught.

He said Lundall had abused her position of trust with her clients, and that the case had involved an extensive and laborious police investigation.

Defence lawyer Jantjie van Niekerk said Lundall appreciated that the gravity of the embezzlement justified a prison sentence, but said she was seriously ill.

He listed six life-threatening conditions that she had, including liver disease and pancreatitis.

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