Alleged Postbank fraudster (R400 million) in court

01 Feb 2016 | Admin Author

A fugitive who evaded police for two years after allegedly committing fraud worth over R400 million, appeared in the Bloemfontein Magistrate's Court on Tuesday.

Hawks spokesperson, Captain Paul Ramaloko, says Moketsi Mahoko, faces charges of corruption and conspiracy to defraud the Postbank.

Mahoko allegedly offered an insider a R1.5 million bribe in return for information which would have compromised the Postbank banking system's security.

He was allegedly involved in hacking into the Postbank's system in 2012 and causing a loss of R420 million.

Three other men have already been convicted and sentenced to between 15 and 25 years for their roles in the crime.