Tuesday, September 28, 2021

KBL employee blows brewer’s P4m in ill-gotten property

A credit supervisor employed by Kgalagadi Breweries Limited (KBL) is at the centre of police investigations following mysterious disappearance of over P4 million from the company’s coffers. 

Investigators have already seized immovable property from the suspect believed to have allegedly been bought with proceeds of crime.

It is understood that the suspect allegedly went on a shopping spree and bought immovable property.

The newly appointed head of Serious Crime Squad boss within the police service detective senior superintendent Mogotsi Rankhudu told this publication that his office is investigating a case in which about P4,4 million was allegedly embezzled from KBL by a certain employee.

“It is true that my office is investigating a case in which about P4,4m was allegedly embezzled from KBL,” he said.

He explained that preliminary investigations have revealed that between 2016 and 2019 the alleged suspect embezzled the funds and went on a shopping spree.

Rakhudu said at the moment his office is questioning a middle-aged man who was a staff member at KBL. 

He said part of the funds bought immovable property. investigators traced and located the property and seized it. The seizure will form part of evidence during trial.

“So far we have only identified one suspect but it is highly possible that the number of suspects might increase during the investigations,” said Rakhudu.

He added that they have not yet recovered some of the money that is allegedly missing.

Rakhudu stated that once they have completed the investigations a docket will be forwarded to the Directorate of Public Prosecution (DPP) for possible prosecution.

The suspect is likely to be charged with theft and money laundering.

KBL spokesperson Masegonyana Madisa has confirmed that a former credit supervisor is being investigated by the police following the embezzlement of about P4,4 m.

He stated that the said credit supervisor was dismissed from duty on unrelated charges prior to the discovery of the embezzled funds.

He stated that this is the first case of its kind that KBL has thus far.

“In-order to curb such unfortunate incidents, KBL has instituted measures in place that restrict access rights to oversight of payment process, further more we have introduced shared services which assist with checks and balances and the delegation of authority,” said Madisa.

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