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Three former ABSA bank employees have been jailed for 15 years each for defrauding the Johannesburg Securities Exchange and Samancor of R190 million.
The National Prosecuting Authority said Dimakatso Ramakgole, Pauline Senoamadi, and Motsiri Ramahlarerwa, were recently sentenced in the Mokopane Regional Court.
NPA spokesperson, Mashudu Malabi Dzhangi, said that “during the trial, the court heard how the syndicate operated in their capacity as ABSA bank employees in Limpopo and Gauteng when they accessed the portfolios of JSE Trustees and Samancor Foundation without authorisation.”
“On 26 July 2019, near Lephalale, the accused unlawfully, falsely, and with intent to defraud, and misrepresent to Samancor Foundation or ABSA, that they were authorised to transfer an amount of R2.9 million, made changes to the JSE’s banking portfolio and added their own,” she said.
Malabi-Dzhangi said in August of that year, a transfer of R30 million was made from Samancor Foundation, and on 23 September 2019, an overall amount of over R158 million was transferred.
She said the defence argued during mitigation of sentence that the accused were first-time offenders and they showed remorse.
“ABSA had to reimburse the JSE and Samancor Foundation a joint amount of R191 108 910.46,” Malabi-Dzhangi said.
