Admission of R9m municipality theft

A former OR Tambo district municipality accountant has admitted to #fraud, #theft and #moneylaundering amounting to more than R9m.

Nyameka Qongqo, pleaded #guilty in the Mthatha court on Monday.

Kudos to Judge Bantubonke Tokota who said “What message will it convey if an accused is not given a custodial sentence?”

Part of the scheme included R2.1m allegedly deposited into an account belonging to a close corporation Ogiyonke Construction, owned by her sister - a classic example of using an entity to disguise ownership of the illicit funds and why its so important to identify related parties and ultimate beneficial owners.

Read the full story here: https://lnkd.in/eKnShnH

#fraud#moneylaundering#aml#ortambo#guilty#accountant