Lloyd Koketso Tshotlang – who stole more than six million rand from Sanlam clients when he was a senior administrator for the reputable financial services firm – has been sentenced to 15 years in prison.
The 34-year-old accused from Atteridgeville was sentenced in the Pretoria Specialised Commercial Crimes Court this week for theft of R6.1 million.
Tshotlang duties included the processing and payment of employee benefits on the instructions received from the investor.
“Over 12 months from June 2020 to June 2021, Tshotlang processed and paid pensions and provident funds meant for investors or members to his account for his personal use,” Mahanjana said.
Tshotlang bought himself luxury items and lived an expensive lifestyle using the money he stole.
“After internal investigations by Sanlam, Tshotlang was arrested on 29 June 2021 and has been in custody since, after the NPA successfully opposed bail,” said Mahanjana.
In court, Tshotlang pleaded guilty to the charges and he told the court, through his legal representative, that he was remorseful for his deeds.
However, Advocate Tshepo Nkadimeng argued for a deterrent sentence that will send a message.
Before sending the accused to prison, the magistrate agreed with the prosecutor, saying the consequences of Tshotlang’s crimes were severe.
He stole money invested by clients and tarnished the image of Sanlam among its investors and clients.
“Therefore, the sentence given was appropriate,” Mahanjana said.