R6m+ stolen: Court freezes accounts

2012-11-01 10:17
Johannesburg - The Moses Kotane municipality in North West has frozen several bank accounts after more than R6m disappeared from the municipal account in less than four days, it was reported on Thursday.

The North Gauteng High Court in Pretoria ordered Absa, First National Bank, Nedbank, and Standard Bank to freeze the business, trust, personal and investment accounts of 15 accountholders on Wednesday, Beeld reported.

The accounts would remain frozen until the municipality had completed procedures to have the money returned.

The newspaper reported that according to court papers, the money was illegally withdrawn from the municipal Absa account between September 28 and October 1.

Stephanus Petrus Piek, of the municipality's legal division, said in a sworn statement that certain employees had access to the bank account.

The municipal accounting system made it impossible for one person to capture and approve a financial transaction, Piek said.

All accountholders with access to the municipal account were given passwords.

Credit division manager Hendrik Shonga said he noticed on October 1 that R180 000 had been withdrawn and allegedly transferred to an account belonging to KK Trading.

Shonga and his supervisor Harry Fourie then realised that more than R6m had been stolen, and a criminal charge was laid.

Read more on:    mahikeng  |  corruption

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24


Amazing solar inventions!

Solar power is lighting up the world, and not just on rooftops anymore.



Prince George the green prince?
One man's $1 million vision for an eco Africa
China's air pollution at doomsday levels
Keep food fresher for longer

Book flights

Compare, Book, Fly

Traffic Alerts

The full moon energy can be quite intense today as your emotions fight against reason. It is important to ground your ideas and...read more

There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.