Former Standard Bank employee who claimed ‘kidnappers’ made him steal over R500,000 jailed

A former Standard Bank employee has been jailed for theft. Picture: Karen Sandison/Independent Newspapers

A former Standard Bank employee has been jailed for theft. Picture: Karen Sandison/Independent Newspapers

Published Nov 13, 2024

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A former Standard Bank employee who pocketed over R500,000 meant for Automated Teller Machines has been jailed to an effective three years behind bars.

Bongani Vincent Nkosi, 37, was sentenced in The Specialised Commercial Crime’s Court sitting in Ga-rankuwa in the North West.

He was found guilty of two counts of theft in October 2024.

The NPA said he was sentenced to eight years imprisonment, five of which was suspended for five years, resulting in three years direct imprisonment.

Explaining the merits of the case, NPA spokesperson in the North West Sivenathi Gunya said the accused was an employee of Standard Bank in Mabopane.

“His duties were to load cash into six automated teller machines, handling of customer automated teller machines, and taking out cash from deposits made by customers at the automated teller machines.

Bongani Vincent Nkosi in the Specialised Commercial Crime’s Court sitting in Ga-rankuwa in the North West. Picture: NPA

“It is alleged that on February 3, 2017, the accused was required to load cash in the amount of R630,000 into the automated teller machine of Standard Bank.

“Investigations revealed that he only loaded an amount of R70,000.”

“The accused claimed that he was accosted and kidnapped by unknown people who threatened to cause harm to him if he didn’t steal an amount of R1 million from the bank and hand it to them.”

Gunya said the accused’s version was that he was kidnapped on February 2, 2017.

“He was then released to go to his work place the next day when he decided to go on with a plan to steal the amount of R 560,000.

According to the accused, he drove to the place where he met his assailants and handed over the money to them.

“The accused did not report this matter to the bank. He failed to report even after the bank manager had tasked him and two other bank officials to do the counting of the money in the vault. It was found that there was a shortage, but the accused as a sole custodian of the vault could not even explain what happened to the money.”

The NPA said he did not report the matter to the South African Police Service (SAPS)

In aggravation of the sentence, State Advocate Fhulufhelo Munyai urged the court to consider the rise in commercial crimes as a concerning factor.

Dr Rachel Makhari, Director of Public Prosecutions in the North West, welcomed the sentence and hopes it serves as a deterrent to others who think they can get away with such crimes.

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