The National Prosecuting Authority described a recently jailed former Sanlam employee, Loyd Koketso Tshotlang, who stole R6.1-million in pension and provident funds, as greedy and that he tarnished the reputation of the investment company.
National Prosecuting Authority (NPA) spokesperson Lumka Mahanjana said Tshotlang was employed as senior administrator for corporate employment benefit payment by Sanlam in July 2019. He started defrauding clients a year later.
“With the proceeds of crime, he bought himself luxury items and an expensive lifestyle. After internal investigations by Sanlam, Tshotlang was arrested on 29 June 2021 and has been in custody since, after the NPA successfully opposed bail,” she said.
The man from Atteridgeville in the west of Pretoria was convicted on September 18 of 16 counts of theft. This week, Tshotlang was sentenced to 15 years in prison by the Pretoria specialised commercial crimes court.
“In court he pleaded guilty to the charges against him, and told the court, through his legal representative, that he was remorseful for his deeds.
“However, Advocate Tshepo Nkadimeng argued for a deterrent sentence that would send a message. He further told the court that Tshotlang had been in a position of trust and had abused that trust by stealing millions from his employer because of greed and his desire to live a life of opulence.”
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Mahanjana said the magistrate agreed with the state.
“He [the magistrate] said the consequences of Tshotlang’s crime were severe, the money stolen was invested by people with an understanding that they would gain financially. Moreover, his conduct tarnished the image of Sanlam among its investors and clients.
“Therefore, the sentence given was appropriate.”
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