Two South Africans in court for R57m theft from Lesotho bank
Lesotho officials intercepted vouchers meant for legitimate service providers and diverted payments to their co-conspirators in SA
28 February 2024 - 10:50
by Staff Writer
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Two South Africans accused of involvement in money being channelled from Lesotho’s central bank to private company accounts, have been arrested.
The investigation by the Hawks and Lesotho Mounted Police Service resulted in charges of fraud and money laundering to the value of about R57m being brought against Traggulogy, director Uthando Lorraine Modise, and Marcious Lerato Lisene in the Ficksburg magistrate’s court on Monday.
W/O Fikiswa Matoti said the Hawks in Bloemfontein were asked by their counterparts in Lesotho to trace money defrauded at the central bank in 2021.
“This crime was committed with the assistance of Lesotho officials who, after intercepting vouchers meant for legitimate service providers, diverted payments to their co-conspirators in SA. Some of these officials are already before court in Lesotho.
“With the help of the Financial Intelligence Centre, it was established that money was channelled to a SA bank under different company accounts.”
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Two South Africans in court for R57m theft from Lesotho bank
Lesotho officials intercepted vouchers meant for legitimate service providers and diverted payments to their co-conspirators in SA
Two South Africans accused of involvement in money being channelled from Lesotho’s central bank to private company accounts, have been arrested.
The investigation by the Hawks and Lesotho Mounted Police Service resulted in charges of fraud and money laundering to the value of about R57m being brought against Traggulogy, director Uthando Lorraine Modise, and Marcious Lerato Lisene in the Ficksburg magistrate’s court on Monday.
W/O Fikiswa Matoti said the Hawks in Bloemfontein were asked by their counterparts in Lesotho to trace money defrauded at the central bank in 2021.
“This crime was committed with the assistance of Lesotho officials who, after intercepting vouchers meant for legitimate service providers, diverted payments to their co-conspirators in SA. Some of these officials are already before court in Lesotho.
“With the help of the Financial Intelligence Centre, it was established that money was channelled to a SA bank under different company accounts.”
The accused will apply for bail on March 13.
TimesLIVE
Apex court hears tussle over eviction of Woodstock residents
Pick n Pay battle with franchisee rages on
Vodacom files appeal against SCA ruling on Please Call Me payout
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Related Articles
Now DA guns for ANC cadre deployment in provinces and regions
Ramaphosa nominates Mandisa Maya as next chief justice
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.