The Bellville Commercial Crimes Court on Tuesday sentenced Ndlovu to two years on seven counts of identity fraud and to two years on six counts of fraud.
In addition, he was handed two years in jail on nine counts of forgery and four years - of which two years were suspended - on four counts of money laundering. The court ordered the sentences to run concurrently.
This means he will serve six years. He was also declared unfit to possess a firearm.
Advocate Denzyl Combrink told the court that Ndlovu’s modus operandi was that he approached different Capitec Bank branches to open various accounts with fraudulent identity documents, plus three-month bank statements and documents purporting to be proof of his residential address. Ndlovu would apply for loans once the accounts were opened.
National Prosecuting Authority spokesperson Eric Ntabazalila said the identity documents of the victims were defaced by Ndlovu who replaced the original photograph with his own before applying for the loans.
“All other supporting documents were also forged. He then withdrew and/or utilised the monies after it was paid into the accounts.
"These funds were regarded as proceeds of crime as the loans were obtained with falsified documents. Capitec Bank suffered an actual loss of R 55 484.19.”
Combrink said: “We emphasised to the court the seriousness of these crimes.
"The impact it had on the victims whose documents were used to open these bank accounts and applied for the loans, and the impact on Capitec Bank and the economic strain it placed on the greater community.
"The accused made formal admissions which could not be regarded as remorse.”