Court seizes cash, vehicles in P20m BancABC 'heist'

The State alleges that starting from October 9 last year, Trevor Thomo Boiteto diverted a sum of about US$2.1 million from BancABC’s New York account, shortly after the sum had been transferred from another foreign currency account in South Africa. He then allegedly proceeded to shuffle the funds between different accounts, covering his tracks with falsified orders, before crediting accounts including Fleming Asset Management and Boldmark Engineering.

Lobatse High Court judge, Justice Reuben Lekorwe ruled that in total seven accounts holding different currencies including US dollars and Rands, should be seized. He also ruled that property, including two vehicles, involved in the suspected money laundering case be seized pending finalisation of proceedings for civil forfeiture.