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The Asset Forfeiture Unit has obtained a high court order returning R1.7m, stolen in an online pension scam, to the victim.
National Prosecuting Authority spokesperson Luxolo Tyali said the high court in Makhanda granted the forfeiture order, declaring R1.7m held in a Standard Bank account under the name Mandisa Ntauzana (Pty) Ltd forfeited to the state and payable to the victim.
“The funds, plus any accrued interest, must be reimbursed to the victim — the sole beneficiary of the targeted pension benefit," Tyali said.
The forfeiture order emanates from a sophisticated online scam involving the unlawful diversion of pension funds belonging to the victim.
The state first obtained a preservation of property order granted on January 22 2026.
On January 14 2025, an employee at Dold and Stone Attorneys in Port Alfred was following up with Consolidated Retirement Fund (CRF) regarding outstanding pension payments after spotting discrepancies in the beneficiary’s records.
“On 18 February 2025, the CRF advised that a portion of the pension benefit had already been paid to the victim on 16 January 2025, while the remaining portion had allegedly been paid directly to the victim on 19 December 2024.”
Tyali said further verification revealed that payment instructions had been received via an email purporting to originate from the victim, directing that the funds be transferred into a Standard Bank late estate account.
Investigators later found the instruction was fraudulent, Tyali said. A proof of payment for R1.7m was issued and the funds were transferred.
“The email and banking details did not belong to the victim.”
Despite the processing of the pension benefit, the victim received none of the funds. A criminal case was opened.
The Financial Intelligence Centre (FIC) conducted a parallel investigation and traced the funds transferred on January 16 into the Standard Bank account. The FIC placed a temporary freeze on the funds pending the preservation order.
Acting director of public prosecutions in the Eastern Cape, adv Samkelo Mtwana, commended the outcome and successful forfeiture.
The NPA praised the co-ordinated work of SAPS, the FIC, banking institutions and the Asset Forfeiture Unit in tracing, preserving and forfeiting the proceeds.
“This outcome reinforces the commitment of law enforcement agencies to ensure that cyber-enabled financial crimes are effectively disrupted, perpetrators are deprived of the proceeds of crime, and victims are duly protected and reimbursed,” Tyali said.
TimesLIVE
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