Ex-Standard Bank empoyee admits to defrauding bank

04 Sep 2018 17:50pm
WINDHOEK, 04 SEP (NAMPA) - A former Standard Bank Namibia employee charged with fraud in connection with over missing N.dollars 4 million from the local bank during 2015, on Tuesday admitted to committing the offence.
The 35-year-old Charles Winston Manale admitted to committing the offence when he entered a guilty plea at the start of his fraud trial before High Court Judge Dinah Usiku here on Tuesday morning.
Manale admitted to 147 counts of fraud, alternatively theft, and his case is being dealt by the court in terms of the Prevention of Organised Crime Act of 2004.
He told Judge Usiku that from January 2011 to December 2015 he defrauded Standard Bank Namibia on 147 occasions by having the money being transferred from accounts at the bank to his own account and an account of one of his friends.
He said a total amount of about N.dollars 5,05 million was fraudulently transferred into his own bank account and that of his friend.
He informed the court that he was employed as a senior estates officer in the bank's executors and trustees department in Windhoek during the period between January 2011 and August 2013.
During that period, Manale fraudulently had a total amount of N.dollars 806 520 paid into a bank account of his friend, Daniel Kauko Nehale, and after the death of Nehale, he again fraudulently had close to N.dollars 4, 25 million paid into his own bank account from September 2013 to December 2015.
He was, thereafter, found guilty as charged.
Manale entered his guilty pleas as per the instructions he gave his State-funded defence lawyer, Jan Wessels.
Members of the Namibian Police Force’s Commercial Investigations Unit formally arrested Manale shortly after he had surrendered himself to the police on 28 January 2016 after being on the run since 20 December 2015.
He worked at Standard Bank Namibia's Trust Account Division in Windhoek.
Manale returns to court on 22 October 2018 for the presentation of the pre-sentencing evidence.
Even though Manale was found guilty as charged, he was again released on a warning as per agreement reached between his defence lawyer Wessels and State Advocate, Constance Moyo in court today.