Metro

Two Nigerian fraudsters bag 15 years jail terms for R11 million fraud in South Africa

Published

2 years ago

July 12, 2022

Two Nigerian fraudsters, Olatunji Samson Abdul, and Adedayo Quandri, have been sentenced to eight and seven years jail terms respectively by a South African court after they were found guilty of duping victims of over R11 million through email fraud.

The Nigerian scammers were said to have cloned the email accounts of a law firm, DM5 and Yaron Waks, used same to defraud unsuspecting clients and used the proceed to live a lavish lifestyle, renting a Waterfall Estate property for R55 000 per month and a Bentley for R50 000, according to the court records.

While presenting the case in court, prosecutors said the Nigerians used spyware and viruses to monitor emails between the law firms and their clients, mostly property traders, that were about to receive transfers from the conveyancers after their properties were sold.

The accused would then send their banking details to the conveyancers as though these emails were from property traders, resulting in R7.8m and R4.2m being diverted to their accounts.

At the time of their arrest, the police said R700 000 in cash was found in a closet at their luxury Waterfall Estate rented home.

The police said it also recovered alcohol worth R80 000 during the arrest of the Nigerians who both pleaded guilty to 24 charges of theft and fraud.

The alcohol seized was understood to be large quantities of premium cognac and champagne brands, while expensive and sealed clothing items from Italian brands, including Prada and Gucci, were also seized upon their arrest.

Abdul was sentenced to eight years behind bars, while Quandri was sentenced to seven years.

Related Topics:Crime Featured Nigerians. Fraudsters Prison

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Metro

World Bank pledges $3b to support Zambia’s development goals

Published

12 hours ago

November 14, 2024

Isaac Dachen

The World Bank Group has pledged to avail Zambia with approximately $3 billion to support the country’s development goals under the new Country Partnership Framework (CPF) for 2025-2029, with nearly half of the funds already disbursed.

World Bank Country Manager, Achim Fock, who made this known at the CPF launch at the Mulungushi Conference Centre in Lusaka on Wednesday, outlined the global lender’s focus areas, which included enhancing jobs, human capital, and climate resilience.

Fock highlighted that $200 million had been approved to strengthen Zambia’s social protection programs, including the Refugee and Host Community Project.

He also expressed optimism for upcoming approvals, including the Climate and Economic Resilience Financing and the Zambia-Tanzania Interconnector.

Zambia’s Finance and National Planning Minister, Situmbeko Musokotwane, who also spoke at the event, noted that 2.3 million Zambian households have so far benefited from social protection interventions such as the Cash for Work Programme, emphasizing the government’s commitment to safeguarding lives amid crises like the recent drought.

Musokotwane further reiterated the government’s commitment to protecting lives during times of crises such as the recent drought.

“More than two thirds of the Zambian population was affected by the drought. It was the government’s view that the first priority was to save lives,” Musokotwane stated.

Metro

Chinese mining giant CNMC set for $1.6 billion investment in Zambia

Published

1 day ago

November 13, 2024

Isaac Dachen

A Chinese mining giant, China Nonferrous Metal Mining Company (CNMC), has announced the investment of over $1.6 billion in Zambia, following successful discussions with President Hakainde Hichilema at the State House on Tuesday.

CNMC Chairman and Chief Executive Officer, Wen Gang, who held the discussions with Hichilema along with the Chinese Ambassador to Zambia, Han Jing, confirmed the company’s commitment to furthering Zambia’s economic development.

“We are actively investing in critical sectors of Zambia’s economy,” Gang said after the meeting.

He noted that CNMC was currently pumping water from Shaft 28 at Luanshya Copper Mine, where 29.9 million cubic liters have been cleared as part of intensified dewatering efforts, adding that the company plans to inject an additional $200 million to develop a greenfield mine on the Copperbelt.

President Hichilema who welcomed CNMC’s commitment, highlighted the potential economic impact of the firm’s investment which will include job opportunities for Zambians.

“This $1.6billion investment, alongside advanced technology and expansion, will extend operations and create more jobs and opportunities for Zambians, especially in mining contracting and supply,” the President said.

He also expressed gratitude to Chinese President Xi Jinping and the Chinese government for their shared commitment to fostering growth and cooperation between the two countries.