FORMER FINANCIAL MANAGER SENTENCED FOR R47 MILLION FRAUD

23 MAY 2025

FORMER FINANCIAL MANAGER SENTENCED FOR R47 MILLION FRAUD

The Specialised Commercial Crimes' Court sitting in Palm Ridge has sentenced Petronella Niemand (61) former financial manager at Global Access Holdings (Pty) Limited, to effective 30 years for defrauding the company of over R47 million. The court convicted Niemand of 437 counts of fraud she committed between 2013 and 2018, during her tenure as financial manager at the company.

After the company discovered discrepancies in the financial records and missing funds, they reported the case to the authorities. The accused was subsequently arrested, prompting an investigation led by Lindiwe Mabele, which revealed that the accused had exploited her position to manipulate the company's online banking system, creating fictitious payments to legitimate service providers, which were actually deposited into her own bank accounts. The breach of trust resulted in severe financial constraints for the company, forcing it to retrench 11 employees.

The Senior State Advocate, Valencia Dube emphasised the seriousness of the offence, breach of trust and the need for deterrence submitting that a custodial sentence is warranted. Despite the accused’s guilty plea, the court noted that the evidence against her was overwhelming and her actions were driven by greed. The court also took into account the severity of the offences, the planning and execution of the fraud and the significant financial impact on the company.

The sentence imposed reflects the seriousness of the offences and serves as a deterrent to others who would seek to exploit positions of trust for personal gain.

Issued by:

Phindi Mjonondwane
NPA Regional Spokesperson – Gauteng Division, Johannesburg
083 402 4787 / 011 220 4245
hmjonondwane@npa.gov.za