[Image: pymnts]
Fifteen suspects accused of perpetrating a staggering R157 million fraud and theft scheme against Nedbank have been nabbed by the Asset Forfeiture Unit (AFU) and the Directorate for Priority Crime Investigation Unit, otherwise known as the Hawks.
These individuals in Gauteng are alleged to have committed fraud and theft against Nedbank over five years between July 2018 and January 2023, leading to the authorities seizing and attaching various properties in Roodepoort, Randburg, Krugersdorp and Pretoria.
National Prosecuting Authority (NPA) Gauteng spokesperson, Phindi Mjonondwane said the seizure was intended to safeguard the substantial assets – valued at approximately R33 million – belonging to the suspects, held either in their personal names or through various business entities.
“The property secured in terms of the order includes houses, sectional title units, a small holding, 77 vehicles (utility vehicles, motorcycles and luxury sedans), cash held in bank accounts and business interests.”
Additionally, authorities uncovered a variety of high-value items, including gold and silver jewellery, luxury wristwatches, and designer clothing items, as well as laptops and cellphones, approximately R80,000 in cash, a cash counting machine, licensed handguns and assault rifles, 16 magazines with ammunition and 2172 rounds of ammunition of various calibres.
What an operation.

The 15 suspects were being prosecuted in the Johannesburg specialised commercial crimes court on charges of fraud and theft.
One of the key figures in this case is Nicolette de Villiers, who previously served as an investigator in Nedbank’s Group Financial Crime Forensics and Security division.
“It is alleged that Nicolette de Villiers had abused her position to engineer the fraud and theft by unlawfully transferring funds held in the suspense accounts by Nedbank on behalf of legitimate victims of fraud into the bank accounts of various unlawful recipients with whom she was personally acquainted.”
Lucas Keitumetse Mathimbi, a former Nedbank employee, allegedly received over R91 million through various transactions into his personal and business accounts, Ivy League Group (Pty) Ltd and IVL Guards (Pty) Ltd, both of which he is the sole director.
Must be nice. Until the Hawks come knocking.
“Of the property secured in terms of the court order, Mathimbi was connected to 11 immovable properties, which include houses and sectional title units, as well as 27 vehicles. One immovable property secured is registered in the name of a minor child,” said Mjonondwane
The investigations also revealed that many beneficiaries of the illicit funds allegedly passed portions of the money to other recipients within the network, further entrenching the web of deception.
“It is alleged that De Villiers herself received about R6 million of the stolen funds in this manner. Upon the discovery of the fraud, De Villiers was dismissed from her employment with Nedbank,” she added.
The interim restraint order was granted pending the outcome of the criminal case and the accused were released on bail, and are expected to appear in court on March 26.