Written by
Xolile Mtembu
Digital Journalist, IOL News
Mziwakhe Khumalo, a 33-year-old former bank employee, was sentenced to 15 years in prison for fraud, money laundering, and contravening the Electronic Communications and Transactions Act. The Gqeberha New Law Court handed down the sentence on August 8, after Khumalo was arrested by the Hawks’ Gqeberha Serious Commercial Investigation team on September 29, 2021.
Khumalo and his co-accused, Lwando Dingiswayo, were charged with unlawfully accessing and altering a victim’s bank account details between 2017 and 2018. The victim, residing in Germany, was unaware of the changes made to their contact information and signing authority, which allowed the duo to gain access to the account.
The accused then opened a fraudulent cheque account and transferred R400,000 from the victim’s investment account. Despite their attempts to transfer an additional R4.8 million, they were unsuccessful in the latter scheme.
Khumalo appeared in court multiple times before being sentenced. He was convicted of fraud (15 years), money laundering (six years), and violating the Electronic Communication and Transaction Act (one year). The sentences will run concurrently, meaning Khumalo will serve 15 years in prison.
