Former Sanlam employee Loyd Koketso Tshotlang has been sentenced to 15 years in jail for the theft of R6.1-million from the company.
The 34-year-old faced 16 counts of theft at the Pretoria Specialised Commercial Crimes Court.
In his role as senior administrator for corporate employment benefit payment from July 2019, his duties included the processing and payment of employee benefits on the instructions received from the investor.
National Prosecuting Authority (NPA) spokesperson Lumka Mahanjana said for more than a year Tshotlang processed and paid pensions and provident funds meant for investors or members to his account.
“With the proceeds of crime, he bought himself luxury items and an expensive lifestyle. After internal investigations by Sanlam, Tshotlang was arrested on 29 June 2021 and has been in custody since, after the NPA successfully opposed bail,” said Mahanjana.
The accused pleaded guilty to all the charges and told the court that he is remorseful.
However, advocate Tshepo Nkadimeng argued for a deterrent sentence that will send a message. He further told the court that Tshotlang was in a position of trust and he abused that trust by stealing millions from his employer, because of greed and his desire to live a life of opulence.
The magistrate agreed with the state, saying the consequences of Tshotlang’s crime were severe, and the money stolen were investments of people with an understanding that they will gain financially.
“Moreover, his conduct tarnished the image of Sanlam amongst its investors and clients. Therefore, the sentence given was appropriate,” said the magistrate.
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