A Durban bank official is guilty of vehicle fraud committed at a Ballito car dealership.
On Monday the Durban Magistrate’s Court sentenced Kevin Neil Lloyd (42) to a R200 000 fine or five years imprisonment of which R100 000 or two years imprisonment is suspended for five years on condition that he is not convicted of fraud or theft during the period of suspension
Lloyd worked at a bank in Durban, where he processed fraudulent vehicle finance applications in 2009.
The applications included false pay slips and addresses, and bank protocol and procedures were not followed and prices were inflated.
These were used to apply for vehicle finance in a Ballito car dealership, resulting in the sale of eight luxury vehicles.
The affected bank lost R4 382 000.
Hawks spokesperson, Captain Simphiwe Mhlongo said Lloyd was arrested in February 2019 and he appeared in court several times until he was sentenced.
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