https://www.timeslive.co.za/news/south-africa/2024-10-29-hawks-arrest-14-suspects-in-r157m-fraud-and-money-laundering-case/

Fourteen suspects, including a former Nedbank employee, were arrested on Tuesday in connection with allegations of fraud and money laundering.

“It is reported that the main suspect unlawfully made payments from suspense accounts valued at over R157m which were transferred to recipients who were not entitled to receive such monies,” said Hawks spokesperson Col Katlego Mogale.

The suspects, who were in Pretoria, Johannesburg and Krugersdorp, will appear in the Johannesburg specialised commercial crimes court, sitting in Palm Ridge, on Wednesday.

Police minister Senzo Mchunu commended the arrests.

“This operation underscores our commitment to tackling financial crime and protecting the integrity of our banking systems. The collaborative efforts leading to this significant breakthrough reflect the effectiveness of our law enforcement agencies in addressing financial misconduct and ensuring that those who engage in such criminal activities are held accountable,” Mchunu said.