Bank fraudster gets a hefty penalty

2017-10-18 06:02

Mmoni Moses Moroe (34), a former employee at Absa’s Loch Logan Waterfront branch in Bloemfontein, was found guilty on 359 charges of fraud. He is bound to repay the bank R167 912.

Capt. S’fiso Nyakane, Hawks provincial spokesperson, says Moroe has been given time to repay the money before or on 2 July 2018 to avoid spending time in prison. The accused, who resides in Phahameng, Bloemfontein, has already forfeited R200 000 of his pension money which has been paid to the bank to recover the loss the bank incurred.

“Moroe will serve eight years in prison if he fails to repay the bank. He was sentenced to eight years imprisonment, suspended for five years, on condition that the outstanding amount is paid before or on 2 July 2018,” says Nyakane.

District Magistrate M. Daya sentenced the accused in the Bloemfontein Magistrate’s Court on Tuesday, 10 October, after finding him guilty of defrauding the bank of R366 000 over two years. Moroe was a sales consultant at the bank’s Loch Logan Waterfront branch.

“A protracted investigation by the Hawks discovered that between 2014 and 2016‚ he unlawfully transferred money from client accounts without their knowledge to his brother’s account.

“The money was then withdrawn by the accused for personal gain. As a result‚ the bank was prejudiced and suffered a total loss of R366 000‚” says Nyakane.

The amounts range from R20 to R5 600, the investigation revealed.

Capt. Martin Barker investigated the fraud case. Nyakane says the bank dismissed Moroe last October after an internal trial.

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