Net widens in BancABC P20m "heist"

The State believes that starting from October 9 last year, Trevor Thomo Boiteto, a former money market dealer at the bank, diverted a sum of about US$2.1 million, 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.

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