KEY POINTS
- Five suspects arrested in a fraud scheme targeting Capitec Bank.
- Capitec Bank lost over R2 million in fraudulent loan applications.
- The case is part of broader efforts to combat financial crime.
Five individuals accused of defrauding Capitec Bank of over R2 million appeared in court this week. The suspects were arrested following a targeted sting operation by the Provincial Commercial Crime Investigation Unit. The operation took place across Mpumalanga and Bronkhorstspruit from March 26 to 28, 2025.
The accused are Christopher Mduduzi Zelani (36), Eric Khumalo (53), Mthobisi Mahlobo (32), Austin Mabuza (27), and Zithobile Mango (41). They are believed to be part of a criminal syndicate that operated from August 2021 to August 2023. Authorities claim the group used fraudulent documents to apply for loans and credit cards through Capitec Bank.
Suspects allegedly recruit Capitec employees for fraudulent loans
According to Monica Nyuswa, the National Prosecuting Authority (NPA) Regional spokesperson, the suspects allegedly recruited Capitec employees to assist in the loan approvals. Once the loans were approved, the group would divide the proceeds among themselves.
Capitec Bank suffered a loss exceeding R2 million due to this fraud scheme. Each of the five suspects was granted bail of R5,000 by the court. However, they are required to meet strict conditions, including reporting to the nearest police station twice a week, surrendering their travel documents, and attending all court appearances.
Case postponed for further investigation and identification of more suspects
The case has been postponed until May 8, 2025, to allow for further investigations, according to IOL. Investigators are also working to identify other possible suspects connected to the scheme. The authorities have not ruled out the involvement of more individuals.
This case is part of a broader initiative known as the 2024/25 Specialised Commercial Crimes Unit (SCCU) Capitec project. The project focuses on improving inter-agency collaboration to combat financial crime within the banking sector.
Nyuswa said, “The project seeks to improve collaboration between the SCCU and the Provincial Commercial Crime Investigation Unit to speed up the prosecution of financial crimes and reduce their impact on the economy.”
