BancABC 'stolen' millions now cyber fraud, money laundering case
Mpho Mokwape | Friday December 6, 2019 14:31
In the new twist, the accused persons, Trevor Boiteko, Omphemetse Kedikilwe and Mooketsi Kedikilwe are now charged with money laundering and cyber fraud.
The three were initially charged with theft contrary to section 264 read with section 271 of the Penal Code after they were accused of acting together and stealing US$ 2, 064 239.49 translating to about P20 million belonging to BancABC.
Appearing before court on Tuesday, the trio was read the new charge sheet and their plea further reserved until the next mention.
According to the new charge sheet, they are charged with nine counts ranging from cyber fraud and money laundering including the companies they represent. In the counts, Boiteto who was the bank’s employee faces four counts of cyber fraud while also facing the money laundering charge with his co- accused and the companies.
Particulars of the offence are that, the trio in their own personal capacity together with a company Waltord Holdings represented by Omphemetse as its director, and another one, Boldmark Engineering represented by Mooketsi as its director, between October 9, 2018 and January 10, 2019 acted together and stole the money from the bank.
In the court documents seven bank accounts ranging from P4, 140, 337.09, R2, 620, 719. 49, P10, 418. 94, USD 277, 148. 99, P29, 009. 04, P158, 883. 17, P13, 418. 62 and three vehicles being Audi A3, Toyota Toyoace and Toyota Land cruiser have all been seized.
According to the background of the case, BancABC had on February 12, 2019 performed reconciliation in the Treasury Department of the bank where officials were able to pick an anomaly showing that the money has been removed from Citibank, but without clear indication of where the money had been transferred.
Upon analysis of the transactions, it was realised that there was a transaction which effected on October 9, 2018 indicating that Trevor Boiteto had fixed the sum of USD 2,000,000 as the amount was fixed by an entity known as Untu Holdings held by the bank for period of 10 days.
It revealed that the bank officials picked in the days following that there were many transactions performed by Boiteto involving different companies.
Further, according to the documents, the money was actually fixed by various entities amongst them Untu Holdings, Kgori Capital, Boldmark Engineering and upon maturity was credited to Fleming Asset Management Botswana account and remained therein and that all transactions to various entities were done from Fleming Asset Management account.
It was revealed that at the time Fleming Asset received the USD 2,000,694. 44 it only had a credit balance of USD 668. 73 and had not received any other credit from any other source.
“Notwithstanding that Kgori Capital and Untu Holdings were said to be the ones giving instructions for fixed deposits, no instructions were given by any of these entities for fixing of the money or dealing with it anyhow.
There was similarly no instructions given by Fleming Asset Management for either creation of fixed deposits or any payments or disbursements in respect of the money from its account,” reads the document.
Investigations in the matter were said to have revealed Boiteto was the kingpin and the mastermind who created the scheme and gave all the instructions for the creation of fixed deposits and for the disbursements made in respect of the money and from all the accounts.
Boldmark Engineering, which was picked as the final destination where most of the money was transferred to by Boiteto, and belonged to Mooketsi Kedikilwe, reportedly operated two accounts with BancABC and that at all times material were on zero balance.
At the end of investigations, DPP charged the trio and only two companies despite earlier court documents revealing that more companies were involved in transacting of the stolen money.
Unoda Mack and Kabo Motswagole represent the accused persons and their next mention is February 12, 2020.