Suspects in R157m Nedbank suspense account case face 224 counts of fraud

Fourteen suspects and seven associated entities appeared before the Johannesburg specialised commercial crimes court on Wednesday to face 224 counts of fraud relating to a series of unlawful banking activities. 

The activities are alleged to have occurred between July 2018 and January 2023. 

Nicolette de Villiers, a former forensic investigator with Nedbank’s group crime, forensic and security division, appeared with Samantha Lee, Jacobus Johannes Nel, Miquite Nel, Dillin Damian Hoffman, Jacobus Johan Joubert, Michelle Desire Cheryl Buys, Mariska O’Connor, Andy O’Connor, Yu-Wei Fang, Leane Botha, Christiaan Gideon Venter, Keitumetse Lucas Mathimbi and Priscilla Segametsi Songwane. 

It is alleged De Villiers issued instructions for the unauthorised transfer of more than R157m from Nedbank’s suspense account into the accounts of her alleged co-conspirators and various associated companies, including Ivy League Group, Prometal Projects, Formosa Flora, Kitchen at Cost and Gideon Inno Textiles.

Some among the accused are registered as directors and members of these companies.

“A suspense account is used by Nedbank to secure funds that are under investigation,” said National Prosecuting Authority (NPA) spokesperson Phindi Mjonondwane. 

She said numerous account holders at Nedbank had reported unlawful transfers from their accounts, leading to investigations by the bank.

“Allegations suggest that instead of facilitating the rightful return of blocked funds to their owners, De Villiers directed the transfer of these funds to the accuseds’ accounts.” 

The accused were released on bail ranging from R2,000 to R20,000. However, Fang remains in custody pending a bail hearing set for November 7 as the court requires the services of a Taiwanese interpreter for the proceedings. 

The case was postponed to January 29 for the inclusion of an outstanding suspect and to discuss possible disclosures related to the case docket. 

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