Bank employee convicted for obtaining fraudulent loan to himself
Lifa Nxumalo (29), a former employee of Commercial Bank, employed as a Sales Consultant, was found guilty, and consequently convicted by the Middelburg Specialised Commercial Crimes Court on Wednesday on two counts of fraud.
The conviction followed an intensive investigation by the Hawks’ Middelburg based Serious Commercial Crimes Investigation Unit.
Nxumalo, during August 2018, processed two personal loans to the amount of R228 207 by submitting false payslips and bank statements. The application was approved and paid out an amount of R100 000 which was transferred to his personal bank account.
During internal audit the fraud emerged and the case was opened and transferred to the Hawks’ Middelburg based Serious Commercial Crimes Investigation Unit for thorough investigation. It was then established that the accused defrauded the company.
An arrest warrant was authorised and executed. The accused appeared before the Middelburg Specialized Commercial Crimes Court where he was convicted on two counts of fraud.
His bail was extended and he was warned to be back in court on 20 October for sentencing.
The court is awaiting a correctional supervision report for purposes of sentencing.
