Latest news with #ThokoEvelynNdlovu
The Star
a day ago
- The Star
Woman sentenced to 13 years for R2. 5 million Old Mutual investment fraud
A 37-year-old woman has been handed a 13-year prison sentence for orchestrating a massive R2.5 million fraud scheme, deceiving unsuspecting Old Mutual clients and laundering the stolen funds. Thoko Evelyn Ndlovu was convicted on August 8 by the Polokwane Specialised Commercial Court for 80 counts of fraud and one count of money laundering. Provincial police spokesperson Colonel Malesela Ledwaba revealed that since 2015, Ndlovu had been defrauding Old Mutual clients in Marble Hall of their hard-earned money. The court found that Ndlovu convinced Old Mutual clients to invest or purchase shares by directing them to deposit money into her personal Nedbank account, fully aware that she intended to use the funds for her benefit instead of transferring them to the company's account. Ledwaba explained that after five years of investing their hard-earned money, the clients realised they were not receiving the expected updates from Old Mutual, confirming the maturity dates of their investments, prompting them to contact Old Mutual for clarification. 'They went to Old Mutual to inquire about their investments, and that was when they were surprised to learn that their information was not recorded on the Old Mutual system.' Following an investigation by Old Mutual, clients were encouraged to file reports at their local police stations. Fraud and money laundering cases were then formally opened and handed over to Sergeant Ellias Mathenji for further probing. Sergeant Mathenji uncovered that the accused had been using her personal bank account to carry out the crimes, providing crucial evidence in the case. Ndlovu was arrested in March 2023 and granted bail of R50,000 until July 17, 2025. She was found guilty, convicted, and sentenced on August 8, and was also declared unfit to possess firearms. The Provincial Commissioner of police in Limpopo, Lieutenant General Thembi Hadebe, has welcomed the conviction and subsequent sentencing. The Star [email protected]
IOL News
a day ago
- IOL News
Woman sentenced to 13 years for R2. 5 million Old Mutual investment fraud
Thoko Evelyn Ndlovu, 37, has been sentenced to 13 years for defrauding Old Mutual clients and laundering millions. A 37-year-old woman has been handed a 13-year prison sentence for orchestrating a massive R2.5 million fraud scheme, deceiving unsuspecting Old Mutual clients and laundering the stolen funds. Thoko Evelyn Ndlovu was convicted on August 8 by the Polokwane Specialised Commercial Court for 80 counts of fraud and one count of money laundering. Provincial police spokesperson Colonel Malesela Ledwaba revealed that since 2015, Ndlovu had been defrauding Old Mutual clients in Marble Hall of their hard-earned money. The court found that Ndlovu convinced Old Mutual clients to invest or purchase shares by directing them to deposit money into her personal Nedbank account, fully aware that she intended to use the funds for her benefit instead of transferring them to the company's account. Ledwaba explained that after five years of investing their hard-earned money, the clients realised they were not receiving the expected updates from Old Mutual, confirming the maturity dates of their investments, prompting them to contact Old Mutual for clarification. 'They went to Old Mutual to inquire about their investments, and that was when they were surprised to learn that their information was not recorded on the Old Mutual system.' Following an investigation by Old Mutual, clients were encouraged to file reports at their local police stations. Fraud and money laundering cases were then formally opened and handed over to Sergeant Ellias Mathenji for further probing. Sergeant Mathenji uncovered that the accused had been using her personal bank account to carry out the crimes, providing crucial evidence in the case. Ndlovu was arrested in March 2023 and granted bail of R50,000 until July 17, 2025. She was found guilty, convicted, and sentenced on August 8, and was also declared unfit to possess firearms. The Provincial Commissioner of police in Limpopo, Lieutenant General Thembi Hadebe, has welcomed the conviction and subsequent sentencing. The Star
The Citizen
a day ago
- Business
- The Citizen
Limpopo woman convicted for R2.5m Old Mutual fraud
POLOKWANE – A 37-year-old woman was convicted on 80 counts of fraud and one count of money laundering by the Polokwane Specialised Commercial Court in Polokwane on Friday (August 8). The case involved Thoko Evelyn Ndlovu, who defrauded clients of Old Mutual Marble Hall of R2.5m. The court heard that since 2015, Ndlovu had been advising clients to invest or buy shares and then instructed them to deposit their money into her personal Nedbank account. You might also want to read: Limpopo trio arrested for R6.3m Anglo-American Platinum fraud Instead of paying the funds into the company's account, she used the money for personal gain. The Limpopo police spokesperson Col Malesela Ledwaba said after five years, clients became concerned when they were not receiving information regarding the maturity date of their investments. 'Upon inquiring at Old Mutual, the victims were surprised to find that their information was not on the company's system. Old Mutual's investigation led them to advise the clients to open fraud cases with the police,' he said. Ledwaba added that the cases of fraud and money laundering were assigned to Sergeant Ellias Mathenji. 'Through his investigation, he discovered that Ndlovu's bank account was used in the commission of the crimes. Ndlovu was arrested in March 2023 and granted bail of R50 000. She was found guilty, convicted, and sentenced on August 8 was also declared unfit to possess a firearm,' his statement read. Provincial Commissioner of police in Limpopo, Lieutenant General Thembi Hadebe, welcomed the conviction and sentencing.
