KEY POINTS
- Five more suspects appeared in court for allegedly defrauding Capitec Bank of over R2m through fake loan applications, bringing the total accused to ten.
- The syndicate reportedly recruited bank employees to process fraudulent documents, with proceeds shared among members.
- Previous suspects were granted bail, while the latest group remains in custody pending a formal bail hearing on April 24.
Five additional suspects linked to an elaborate fraud syndicate targeting Capitec Bank appeared before the Emalahleni Magistrate’s Court on Friday, facing charges of fraud, corruption, forgery, uttering, and money laundering.
The accused—Ellias Mbalekwa Jiyane (57), William Vezi Jiyane (46), Sifiso Shekwa (29), Lucky Mkhabela (35), and Patricia Nqobile Nkosi (25)—were arrested this week in coordinated operations by the police’s provincial commercial crime and tracking teams in Mpumalanga and Gauteng.
The case has been postponed to April 24 for a formal bail application, with the suspects remanded in custody. According to the National Prosecuting Authority (NPA), the syndicate allegedly operated between August 2021 and August 2023, recruiting Capitec Bank employees to process fraudulent loan and credit card applications using falsified documents.
“They allegedly recruited Capitec employees to facilitate loan applications using fraudulent documents. Once the loans were approved, the accused would allegedly share the proceeds among themselves. As a result, Capitec Bank suffered a financial loss exceeding R2m,” said NPA spokesperson Monica Nyuswa.
Previous suspects granted bail
This latest arrest follows the apprehension of five other suspects last week—Christopher Mduduzi Zelani (36), Eric Khumalo (53), Mthobisi Mahlobo (32), Austin Mabuza (27), and Zithobile Mango (41)—who face identical charges.
According to Sowetanlive, they were each granted bail of R5,000, with their case postponed to May 8 for further investigation.
Authorities believe the syndicate’s operations were highly coordinated, exploiting internal bank processes to siphon funds. Capitec Bank has since tightened its verification procedures to prevent similar fraud. “We are cooperating fully with law enforcement to ensure those responsible are held accountable,” a bank representative stated.
Fraudulent loan schemes have become an increasing concern in South Africa, with financial institutions losing millions annually to sophisticated scams. The Hawks have warned that syndicates often target vulnerable bank employees with bribes or threats to gain compliance.
