Gautrain fraud accused linked to Postbank theft
THE JOBURG man suspected of attempting to defraud the Gautrain Management Agency of about R800 million is allegedly part of the same syndicate that defrauded Postbank of R48m two years ago.
This was revealed yesterday at the Johannesburg Commercial Crime Court, where Israel Busang made his first appearance for apparently trying to defraud his employers.
Busang, 30, is said to have inserted spyware on a laptop he brought to work. The software would have allowed him to extract the passwords of executives in the finance department who were responsible for payments.
Prosecutor Richard Tshabalala told magistrate Jerry van Vuuren that the State had charged Busang with two counts of fraud. The other was in connection with R48m siphoned from Postbank.
Busang, who was a Gautrain Management Agency IT technician, was arrested on Wednesday after a Hawks investigation. His case was postponed to December 2 for a bail application.
The syndicate Busang is suspected to be part of defrauded the bank between December 2011 and December 2012. Three people – two of them bank employees – were arrested.
Speaking outside court, Tshabalala said R18m of the missing money had been recovered. He said some of the unrecovered R30m was found to have gone to Busang.
South African Post Office spokesman Khulani Qoma said four people had been arrested for the fraud. “Three have since been sentenced to a total of 75 years in prison. The suspected leader of the syndicate has been arrested and will appear in court in February.”
Qoma said Busang did not have any relationship with the Post Office and that Postbank’s security systems had since been upgraded.