NATIONAL NEWS - A Pretoria man who worked for Sanlam and stole R6.1m pension and provident fund money, has received a hefty sentence and told that he tarnished the reputation of the investment company.
Loyd Koketso Tshotlang was employed as senior administrator for corporate employment benefit payment by Sanlam in July 2019. He started defrauding clients a year later.
National Prosecuting Authority (NPA) spokesperson Lumka Mahanjana said Tshotlang bought himself luxury items and an expensive lifestyle with the stolen money.
“After internal investigations by Sanlam, Tshotlang was arrested on 29 June 2021 and has been in custody since, after the NPA successfully opposed bail,” she said.
Tshotlang who is from Atteridgeville in the west of Pretoria was convicted of 16 counts of theft on September 18. This week, Tshotlang was sentenced to 15 years in prison by the Pretoria specialised commercial crimes court.
“In court he pleaded guilty to the charges against him, and told the court, through his legal representative, that he was remorseful for his deeds.
“However, Advocate Tshepo Nkadimeng argued for a deterrent sentence that would send a message. He further told the court that Tshotlang had been in a position of trust and had abused that trust by stealing millions from his employer because of greed and his desire to live a life of opulence.”
Mahanjana said the magistrate agreed with the state.
“He [the magistrate] said the consequences of Tshotlang’s crime were severe, the money stolen was invested by people with an understanding that they would gain financially. Moreover, his conduct tarnished the image of Sanlam among its investors and clients.”
