Afrikaans comic found guilty of theft, must repay Old Mutual R1.8m

Well-known Afrikaans comic Nico Nel, a former storyteller on the popular TV programme Maak ’n Las, has been found guilty of theft in a Worcester district court following a plea deal.

Nel must repay Old Mutual an amount of more than R1.8 million that he stole from his sister Klaradyn Augustyn, 73, of Worcester.

Nel, formerly a financial advisor at Old Mutual, was supposed to invest an amount of R1.86m - which his sister paid him – with the company. Instead, he used the money to settle his debts and for personal expenses.

According to his plea bargain, he kept his sister under the illusion that her money is safely invested at Old Mutual by paying her an amount of R85 398 in supposed interest on the "investment".

Old Mutual has already refunded his sister more than R2m - and Nel has to repay them R1.8m in three instalments, the court ordered.

He was also sentenced to eight years in prison, suspended for five years. During this time, he cannot be found guilty on any other counts of theft – otherwise he will have to serve eight years, the magistrate said.

She said that while some people may think the sentence is too light, she believes that the threat of jail time should be enough to prevent Nel from offending again. Netwerk24 previously reported that Nel is also being investigated on a charge that he failed to invest R3m on behalf of a Gansbaai couple. 

For the next three years, Nel has been placed under corrective supervision. He must remain at his house in Wellington and can only leave to go to work or church, as well as to serve his required community service of 16 hours per week

Read the full Netwerk24 article here.

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