By Thabo Mosia — A Free State man has been sentenced to 14 years in prison for a massive scam that cost an elderly businesswoman R64.8 million. Sello Cedric Pinkoane, 52, was found guilty of fraud, uttering forged documents, and money laundering. The Bloemfontein High Court delivered the verdict on 3 December 2025, sending a strong message against financial crime.
The Fraud Scheme
The scheme began in January 2017, when Pinkoane approached a 70-year-old businesswoman with what seemed like a lucrative mining contract opportunity. Claiming he had secured a tender—reportedly with Anglo American—he asked for vehicles and cash to meet contract requirements. Trusting him, the woman purchased six Isuzu bakkies and handed over significant sums of money.
However, there was no contract. Pinkoane had forged her signature to transfer ownership of the vehicles and sold them for personal gain. His total theft, including cash and laundered funds, reached R64.8 million. The victim reported the fraud, sparking a lengthy investigation by the Hawks’ Commercial Crimes Unit.
Escape and Re-Arrest
Pinkoane was first arrested on 18 January 2018 but escaped custody on 15 February 2023 while facing another fraud case in Sandton. He remained at large for nearly two years until 24 January 2025, when police found him on a farm near Steynsrus committing copper and aluminium theft with two accomplices. The trio attempted to flee but were apprehended, and Pinkoane faced additional charges.
Sentencing and Impact
On 3 December 2025, the Free State High Court sentenced Pinkoane to 14 years’ direct imprisonment, with no early release options considered. The judge cited the scale of the fraud, the victim’s vulnerability, and Pinkoane’s criminal history, which included prior thefts and bounced cheques, as factors influencing the sentence.
Authorities hailed the conviction as a win against financial crime. The Hawks emphasized that early reporting and vigilance are crucial to stopping fraudsters, especially those targeting older South Africans.
This case highlights the devastating impact of scams on victims and reinforces the principle that, regardless of clever schemes or attempts to escape justice, crime does not pay.
