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The Johannesburg specialised commercial crimes court on Tuesday sentenced a former team leader at Standard Bank’s Cresta Mall branch to seven years’ imprisonment for defrauding the bank’s clients of more than R3m.
In August 2018, investigations conducted by the Hawks uncovered that Cynthia Ncube, 32, misused her position to access the bank’s client database, targeting those with notable investments.
“She transferred funds from their accounts without their consent, often to offshore companies and her account. The fraudulent transactions amount to more than R3m,” National Prosecuting Authority spokesperson Phindi Mjonondwane said.
She said Ncube’s criminal acts had affected multiple clients, including one whose account was debited in the amount of more than R397,000 without consent, and another who lost more than R1.7m.
“Ncube’s accomplice, Austin Muzinganye Nkomo, also received some fraudulent funds, while another suspect remains at large.”
Ncube was apprehended by the Hawks and charged with fraud, theft and money laundering.
Nkomo was handed a nine-year prison sentence earlier last year.
“Senior state advocate Vincent Ndzuke submitted in court that Ncube’s actions constituted a grave betrayal of trust, stating that it was a clear case of an employee biting the hand that fed her,” Mjonondwane said.
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