A group of young people have been granted bail after appearing in a Mpumalanga court for allegedly helping themselves to over R2-million through a loan scam targeting Capitec Bank.
The accused — Christopher Mduduzi Zelani, 36, Eric Khumalo, 53, Mthobisi Mahlobo, 32, Austin Mabuza, 27, and Zithobile Mango, 41, — were arrested last week during a sting operation that spanned Mpumalanga and Bronkhorstspruit.
They appeared in the Emalahleni Magistrate’s Court on Tuesday.
Recruited bank staff to process loans
The National Prosecuting Authority (NPA) confirmed the matter. NPA said the group allegedly operated as a syndicate between August 2021 and August 2023. They recruited insiders at Capitec to help them process fake loan applications.
“They allegedly used fraudulent documents to apply for loans and credit cards. And they did so with the help of bank employees,” said NPA regional spokesperson Monica Nyuswa. “Once the funds were approved, the accused allegedly split the money among themselves.”
The scam is believed to have cost Capitec Bank more than R2-million.
The suspects face a list of charges, including fraud, corruption, forgery, and money laundering. All five were granted bail of R5,000 each, under strict conditions.
Strict bail conditions
They must report to their nearest police station twice a week. And they must also surrender their travel documents. They may not leave the country without notifying the investigating officer.
The matter was postponed to May 8, 2025. This to allow for further investigations and the possible arrest of more suspects.
The case forms part of a special project between the Specialised Commercial Crimes Unit and the Provincial Commercial Crime Investigation Unit aimed at fast-tracking cases involving bank fraud.
Nyuswa said the project, which was referred to the DPP’s office in September 2024, seeks to boost collaboration in prosecuting financial crimes and limiting damage to the country’s economy.
