Sentencing proceedings in a R2 million fraud case involving a Imex bank employee were delayed because the accused was in hospital.
|||Cape Town - Sentencing proceedings in a R2 million fraud case involving a former bank employee were delayed at the Bellville Commercial Crimes Court in Cape Town on Monday, because the accused was in hospital.
Kateryna Karpovska was to have been sentenced last month, but the magistrate was ill and the proceedings were postponed to July 22.
On Monday, however, magistrate Amrith Chabilall was ready to proceed, but could not because this time Karpovska was ill, and the case was postponed to July 30.
Prosecutor Derek Vogel has called for the prescribed minimum sentence.
Karpovska was appointed by the Imex Bank, in Ukraine, Imex’s chief representative officer (CRO) with the South African Reserve Bank.
She is to be sentenced on four counts of fraud, five contraventions of the Prevention of Organised Crime Act (Poca) and one violation of the Financial Advisory and Intermediary Service Act.
Her main function with Imex had been to establish a representative office in South Africa, but she was not permitted to carry on any business for Imex.
According to the charge sheet, Imex closed its South African representative office in March 2008, but Karpovska failed to inform the Reserve bank of this, and fraudulently continued as the Imexbank’s CRO with the Reserve Bank.
On one fraud charge, she falsely informed a client that she was not only Imex’s CRO, but also its chief wealth manager (CWM).
As such, she illegally acted as the client’s financial consultant, and persuaded the unsuspecting client to make four fictitious investments with Imex, totaling US447 384.
In July the client requested the withdrawal of funds from the investments, and Karpovska, knowing the investments were non-existent, and that the money had been channeled into her own account, promised that the money would be transferred to his account.
No money was ever received by the client.
A similar false investment was made for a second client, involving Euros 33 538.
On a third fraud charge, she received R250 000 for investment with Imex, which she kept for herself.
On the fifth fraud charge, she falsely informed Ukrainian friends that her son had been kidnapped, and that a ransom of US2m had been demanded.
She told them that she was US143 000 short of the ransom, and duped them into paying US130 000 into her account.
Vogel said much of the money had been repaid, but the frauds nevertheless involved in excess of R500 000.
Defence attorney Pieter du Toit has requested a suspended prison sentence. - Sapa