In a recent case that highlights the importance of trust and integrity in the financial sector, a former Standard Bank employee has been sentenced to eight years imprisonment for stealing R940,000 from the account of a deceased client.
The Nelspruit Specialised Commercial Crime Court handed down the sentence to Dorcus Nyambi, a 37-year-old administrator who worked at the financial institution in Tonga, Mpumalanga.
According to Captain Dineo Sekgotodi, the Mpumalanga provincial spokesperson for the Hawks, Nyambi re-activated a dormant bank account belonging to a deceased client while the family was in the process of claiming their estate.
YOU MAY ALSO LIKE: Former Government Employee Sentenced For Fraud, Theft, And Money Laundering
She then collaborated with other individuals to create beneficiaries linked to the re-activated account. Subsequently, various amounts of money were deposited into the linked beneficiaries’ bank accounts, resulting in a misrepresentation and a financial loss of R940,000 for Standard Bank.
Once the bank became aware of the fraudulent activity, they promptly opened a case, which was later transferred to the Hawks for further investigation. The diligent efforts of the investigators led to the successful prosecution of Nyambi.
As a consequence of her actions, Dorcus Nyambi has been sentenced to eight years imprisonment. However, five years of the sentence have been suspended on the condition that she does not commit any theft or attempted theft during the suspension period.
In addition to the theft charges, Nyambi was also found guilty of contravening the Prevention of Organised Crime Act (POCA) 121 of 1998 and two counts of contravening the Electronic Communications and Transactions Act 25 of 2002. For these offences, she received a three-year prison sentence.
