Five More Arrested In Capitec Bank Loan Fraud Syndicate Case

Five additional suspects linked to a fraudulent loan and credit card syndicate targeting Capitec Bank appeared before the Emalahleni Magistrate’s Court on Friday.

The arrested group faces multiple charges including fraud, corruption, forgery, uttering, and money laundering in connection with a scheme that cost the bank over R2 million.

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The suspects — Ellias Mbalekwa Jiyane (57), William Vezi Jiyane (46), Sifiso Shekwa (29), Lucky Mkhabela (35), and Patricia Nqobile Nkosi (25) — were arrested this week by the provincial commercial crime and tracking team operating across Mpumalanga and Gauteng.

Their case has been postponed to April 24 for a formal bail application, and they remain in custody.

Syndicate Allegedly Used Inside Help To Defraud Capitec Bank

According to National Prosecuting Authority (NPA) spokesperson Monica Nyuswa, the arrested syndicate operated between August 2021 and August 2023, allegedly recruiting Capitec Bank employees to process fraudulent loan and credit card applications.

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“Once the loans were approved, the accused would allegedly share the proceeds among themselves.

As a result, Capitec Bank suffered a financial loss exceeding R2 million,” said Nyuswa.

The fraudulent documents submitted as part of the scam included fake payslips, employment confirmations, and bank statements designed to bypass the bank’s verification processes.

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Earlier Group Of Suspects Granted Bail In Same Case

This latest court appearance follows the arrest of five other individuals — Christopher Mduduzi Zelani (36), Eric Khumalo (53), Mthobisi Mahlobo (32), Austin Mabuza (27), and Zithobile Mango (41) — who were granted bail of R5,000 each last week after facing similar charges.

Their case has been postponed to May 8, with investigators continuing to probe the full scope of the syndicate’s operations and the potential involvement of bank employees.

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