US$1.1m forex fraud case takes new twist as top management implicated.
In a twist to the US$1.1 fraud case currently embroiling Nedbank Zimbabwe, the 28 tellers who were arrested over the weekend have implicated the bank’s top management in the fraud. The tellers are facing allegations of swapping United States dollars deposited by customers and replacing them with electronic money (RTGS) taking advantage of the fact that the official rate was at 1:1.
According to Pindula News, some of the arrested tellers have accused the top management of not only turning a blind eye to the fraud but of participating actively in the switching of currencies. In leaked audio, one of the tellers is heard saying, Whenever the executives, especially at those branches which they were frequenting, whether they were withdrawing from their RTGS account or from their Nostro, they’d always maintain or demand to withdraw that in USD.
So we don’t know what triggered this but our suspicion is that it started there on top because we started to hear these stories sometime back. We never knew that it was going to be thrown wholesomely on us and probably we are the easiest target for them to just pounce on. Another teller added you would have noticed that as the staff we had a privilege of being given 100% of my salary once off per year in USDs. If I applied for an overdraft, I was given USDs but it was coming from the Bond account – it was 1:1. Listen to the leaked audio below courtesy of Pindula,
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