South Africans accused of P120bn fraud released

Sharon Mathala | Thursday October 23, 2014 16:37

 The trio, Sarel Johannes Geldenhuys, 56, Henry Jacob Spangenberg and Pieter Gernhardus Spangenberg, both 44, who appeared before Village magistrate Priscilla Ditlhong, were granted bail on Tuesday. 

The police confirmed to Mmegi yesterday that the accused men had schemed to transfer money from an account in Germany into a Botswana account and possibly flee to South Africa. The police said that investigations into the matter are still ongoing.

“The accused person and another not before this court between August and October 15, 2014 in Gaborone acting in concert conspired to defraud Barclays Bank of Botswana of a sum of EUR 1,000,000,000 (€1 billion),” the charge sheet read. Their attorney, Friday Leburu, confirmed that the men have since been released on bail amounting to P225,000.  The court instructed that they bind themselves with P25,000 bail each.

“They were each to pay P25,000 for their bail, and provide two sureties each also binding themselves with P25,000,” he said.

The trio will appear in court again on November 20, 2014.