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R9m Absa fraud case postponed

Crime & Courts

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.

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CAPE TOWN, SOUTH AFRICA - OCTOBER 26: Branding during the Absa Currie Cup final match between DHL Western Province and The Sharks at DHL Newlands on October 26, 2013 in Cape Town, South Africa. (Photo by Luke Walker/Gallo Images)

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.

Sapa

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