Man admits to N.dollars 1.6 million Standard Bank fraud

16 Jan 2018 15:40pm
WINDHOEK, 16 JAN (NAMPA) - A man accused of defrauding Standard Bank Namibia at Gobabis of over N.dollars 1.6 million between January 2013 and August 2015, on Tuesday admitted to committing the offences.
Mark Wayne van Wyk pled guilty to 288 fraud charges and the related alternative theft charges when his fraud and theft trial began before High Court Judge Naomi Shivute here on Tuesday.
Van Wyk, 29, pleaded guilty to the charges in the presence and as per instructions of his State-funded defence lawyer, Jan Wessels.
He was, thereafter, found guilty as charged.
In a plea of guilt statement submitted to the court, Van Wyk accepted responsibility for the crimes he is charged with by the State.
He told the court that he was employed as the accounts support consultant, also known as asset custodian, at the Gobabis branch of Standard Bank Namibia and his duties were to oversee transactions on the bank’s internal revenue / interest accounts, as well as to do treasury balancing in respect of those accounts.
Van Wyk admitted that he personally initiated a scheme whereby he would obtain banking accounts from his friends, relatives and acquaintances, and would manipulate the bank’s system to cause payments to be captured, deposited and/or transferred from the bank’s internal revenue/interest accounts to his personal accounts and to the accounts of his friends, relatives and acquaintances.
According to him, his fraudulent actions caused the Standard Bank Namibia branch at Gobabis to lose a total amount of N.dollars 1 604 217 from 19 January 2013 until 31 August 2015.
On several occasions, Van Wyk assisted his colleagues at work to regain their login passwords when they were blocked.
He informed the court he was not forced or influenced by any person or persons to make the admission to committing the crimes and pleading guilty to the charges.
Prosecution representative, Salomon Kanyemba did not object to Van Wyk's admission and guilty pleas.
Van Wyk, who was free on bail, was on Tuesday remanded in custody at the Windhoek Central Correctional Facility.
He returns to court on Wednesday for the presentation of the evidence in mitigation or aggravation of sentencing.