10-year jail term for KZN finance manager who stole R4.8m from her employer
JUSTICE
A 10-year jail term for KZN finance manager who stole R4.8m from her employer
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A DURBAN finance manager who defrauded her construction company employer of R4.8 million through a payment system manipulation has been sentenced to 10 years imprisonment.
The fraud was only discovered after her resignation prompted an investigation.
Vinola Naidoo, 41, of Durban, who also pleaded guilty to money laundering, was sentenced in the Durban Specialised Commercial Crimes Court on Thursday.
Natasha Ramkisson-Kara, spokesperson for the National Prosecuting Authority (NPA) in KwaZulu-Natal, said Naidoo was employed as an assistant finance manager, and later as a finance manager at the company, Channel Construction (PTY) LTD, in Bayhead, Durban since 2016.
She said between August 2016 and August 2019, Naidoo created fraudulent payment packs/interim audit reports and sent these to the company’s owner for his approval.
“He approved them, believing that the payments were for legitimate service providers of the company.”
Ramkisson-Kara, said in addition, Naidoo altered the payment beneficiary details on the company’s system to reflect her own banking details, and the payments went into her personal bank account.
She said this caused the company to suffer the loss of over R4.8 million.
Ramkisson-Kara said following Naidoo’s resignation in 2020, the company’s owner requested an investigation into the company’s financial records, and the offences were discovered.
“The NPA will continue to prosecute matters of this nature vigorously. By working together with the Directorate for Priority Crime Investigation (Hawks) and other stakeholders, we will ensure that perpetrators are brought to justice.”