A former bank manager has been sentenced to five years in prison after stealing over R500,000 from Motswedi Village Bank in North West, South Africa.
The Specialised Commercial Crime Court in Mmabatho convicted Gaananngwe Shadrack Kgosiemang, 58, on eleven counts of theft. The court consolidated the charges for sentencing, giving him a 10-year sentence, with five years suspended, meaning he will serve five years behind bars.
According to National Prosecuting Authority (NPA) spokesperson Sivenathi Gunya, Kgosiemang misused his position as a bank manager between October 2018 and May 2019. He misrepresented financial transactions, fraudulently drawing cheques under false pretenses and transferring funds from the bank’s business account to his own.
Kgosiemang was arrested in March 2023 and released on R5,000 bail. Despite pleading not guilty, he was convicted.
During sentencing, State Advocate Matshidiso Ramakgaphola presented a victim impact statement from the bank, revealing that his actions led to judicial management for Motswedi Village Bank.
Welcoming the sentence, Director of Public Prosecutions Dr. Rachel Makhari said it serves as a strong deterrent against financial crimes. She reaffirmed the NPA’s commitment to tackling commercial fraud.
