Man arrested for M1.2 million fraud

Man arrested for M1.2 million fraud

MASERU – A 29-year-old man is behind bars after he was nabbed for an elaborate fraud that could have cost a local bank M1.2 million.
Napo Moliko appeared in the Maseru Magistrates’ Court yesterday to answer six fraud charges.
He is accused of making false representations to Nedbank Lesotho to transfer money into different accounts.
He has been remanded in custody pending investigations. He will appear in court again on November 7.

Police spokesman Inspector Mpiti Mopeli said the police found that he had 16 Lesotho passports with different fraudulent names and particulars.
“Our police also found a laptop, printer and pay slips from the Prime Minister’s Office with different names,” Inspector Mopeli said.
“The police also found speed points and ATM card skimming devices in Moliko’s possession.”
They also found blank payslips, birth and death certificates.

Moliko is alleged to have committed the crimes between September and October this year.
The charge sheet shows that Moliko misrepresented some documents to Nedbank Lesotho. It says he presented those documents as though he was Morapeli Nelson Machakela, a Nedbank account holder.

Moliko, according to the charge sheet, requested the bank to transfer certain amounts into an FNB account held at Ladybrand by Selloane Matjare.
An amount of M300 000 was transferred to Matjare’s account.
It is alleged that, using the same false documents, Moliko also requested Nedbank to transfer M270 000 to an FNB account held by one Kandove in Ladybrand.

In another charge on the same charge, Moliko transferred a sum of M280 000 from Nedbank to an FNB account held by Kandove again.
The court heard that Moliko on October 12 made another misrepresentation to transfer an amount of M100 000 from Nedbank to an FNB account in Ladybrand held by Matjare.

It also says on October 16 Moliko requested Nedbank to transfer the sum of M13 000 into the FNB account number held by Matjare in Ladybrand.
The court papers showed that in all these incidents, Moliko knew that his documents were not genuine.
Mopeli said chances are high that more arrests will be made in connection with this incident.

The fraud was discovered after FNB in Ladybrand informed Nedbank about the suspicious transactions.
The account was suspended pending police investigations into the matter.

Majara Molupe

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