South Africans accused of P120bn fraud released

Thursday, October 23, 2014

Three South African investors arrested for allegedly conspiring to defraud Barclays Bank of Botswana, Mall Branch of a billion Euros on October 15, were released on bail yesterday.

The trio, Sarel Johannes Geldenhuys, 56, Henry Jacob Spangenberg and Pieter Gernhardus Spangenberg, both 44, who appeared before Village magistrate Priscilla Ditlhong, were granted bail on Tuesday.

The police confirmed to Mmegi yesterday that the accused men had schemed to transfer money from an account in Germany into a Botswana account and possibly flee to South Africa. The police said that investigations into the matter are still ongoing.

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