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Mail & Guardian reports that a North West maize-mill company was fleeced of more than R9 million allegedly by its financial manager, whom the state claims used his three bank accounts for “payments” from non-existent service providers.
Reginald Scholtz, 57, appeared in the Mmabatho specialised commercial crimes court, sitting in Delareyville, on 12 March to face 61 counts of fraud for allegedly stealing money from his employer, Botselo Mills. The National Prosecuting Authority (NPA) claims that Scholtz created alleged fictitious service providers for Botselo Mills, and would “pay” the supposed fake companies, but would allegedly divert the funds to bank accounts belonging to him. “As a group financial manager, the accused had access to bank accounts belonging to the company. The accused was authorised to transact on these accounts, but within the company’s banking system,” reads the draft charge sheet. “The accused gave out and pretended to the company that the [Standard Bank, FNB and Absa] bank accounts were and/or belonged to the service providers of [Botselo Mills]. This he did while knowing that the [Standard Bank, FNB and Absa] accounts were his own personal bank accounts and not those of the companies and/or service providers of [Botselo Mills], and were not created for payment reasons,” the state asserts. Scholtz will return to court on 3 May. He was released on R10,000 bail with strict conditions, including that he had to report to his nearest police station every Monday between 6am and 6pm.
- Read the full original of the report in the above regard by Khaya Koko at Mail & Guardian
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