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R9m Absa fraud case postponed

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.

(Photo by Luke Walker/Gallo Images). Credit: 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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