R9m Absa fraud case postponed

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Absa Gallo Images Photo by Luke Walker/Gallo Images.

Polokwane - A former Limpopo businessman Jacques Nel accused of fraud appeared in the Polokwane Magistrate's Court on Tuesday, the SABC reported.

The matter was postponed to Wednesday.

Nel allegedly defrauded Absa bank of R9 million in 2009 by submitting fraudulent invoices to obtain a loan.

He apparently told the bank he wanted to purchase office equipment but a Hawks investigation found the equipment had already been purchased.

Absa then laid criminal charges.


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