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Hawks Arrest Absa Engineer For Alleged Theft Of R103 million

An Absa employee who allegedly defrauded the bank to the tune of R103 million will appear in the Palm Ridge Specialised Commercial Crimes Court on Thursday.

The police’s Directorate for Priority Crime Investigation (Hawks) arrested Xolela Masebeni, a specialist engineer who worked in Sandton, for allegedly stealing R103 million from the bank. He allegedly transferred the money into six different bank accounts over four months between September and December 2021.

Masebeni was arrested in Queenstown in the Eastern Cape last week.

Hawks spokesperson Ndivhuwo Mulamu said Absa reported the matter to the authorities following an internal investigation. After the law enforcement unit arrested Masebeni, he appeared in the Komani Magistrate’s Court in Queenstown, where he was remanded in custody pending further investigation.

The Hawks said they have not ruled out more arrests on this matter or bringing additional charges against Masebeni.

“The matter was transferred to the Palm Ridge Specialised Commercial Crimes Court and is expected to be in court on 27 January  for a legal representative and bail application,” said Mulamu.

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