FORMER SANLAM EMPLOYEE SENTENCED FOR THEFT OF INVESTORS’ MONEY WORTH R6.1 MILLION
The Pretoria Specialised Commercial Crimes Court sentenced Loyd Koketso Tshotlang (34), from Atteridgeville to 15 years of direct imprisonment, for theft of R6.1 million. This is after he was convicted of 16 counts of theft on 18 September 2022, for stealing from his former employer, Sanlam. At the time of the offences, Tshatlang was employed as Senior Administrator for Corporate Employment Benefit Payment from July 2019. His 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. With the proceeds of crime, he bought himself luxury items and an expensive lifestyle. After internal investigations by Sanlam, Tshotlang was arrested on 29 June 2021 and has been in custody since, after the NPA successfully opposed bail.
In court he pleaded guilty to the charges against him, 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. He further told the court that Tshotlang was in a position of trust and he abused that trust by stealing millions from his employer because of greed and his desire to live a life of opulence.
The magistrate agreed with the state and said the consequences of Tshotlang’s crime were severe, the money stolen was investments of people with an understanding that they will financially gain. Moreover, his conduct tarnished the image of Sanlam amongst its investors and clients. Therefore, the sentence given was appropriate.
