In the News Today: A former FNB employee, who was found guilty of fraud, has been sentenced to an effective 15 years behind bars.
Bantu Ntutwana, 36, was sentenced in the Gqeberha Regional Court alongside his co-accused 45-year-old Lunga Sinyaza.
The National Prosecuting Authority (NPA) in the Eastern Cape said in addition to 15 years for fraud, the duo also received an additional five years for organised crime.
Both sentences would run concurrently.
The conviction stems from Ntutwana using his job as a multi-skilled service consultant at the First National Bank (FNB) in Newtown Park Branch in Gqeberha, to siphon funds.
NPA spokesperson Tyali Luxolo said Ntutwana was found guilty of fraudulently manipulating bank details of a deceased person named Septimus Hauptfleisch.
Tyali said Hauptfleisch died on November 1, 2015, at the age of 88 and was a client of… continue reading HERE.
Source: google.com
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What is Fraud? “Fraud” is any activity that relies on deception in order to achieve a gain. Fraud becomes a crime when it is a “knowing misrepresentation of the truth or concealment of a material fact to induce another to act to his or her detriment” (Black’s Law Dictionary). In other words, if you lie in order to deprive a person or organization of their money or property, you’re committing fraud.