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Specialist engineer arrested for 'siphoning R103m' from Absa bank

24 January 2022 - 12:51
Xolela Masebeni remains in custody and is facing theft charges.
Xolela Masebeni remains in custody and is facing theft charges.
Image: Hawks

A specialist engineer at Absa who allegedly fraudulently transferred R103m into six different bank accounts over four months has been arrested by the Hawks.

Sandton Absa engineer Xolela Masebeni allegedly transferred the money between September and December 2021.

Hawks spokesperson Capt Ndivhuwo Mulamu said the matter was reported by the bank to to the authorities after an internal investigation.

“Masebeni was successfully traced and arrested in Queenstown in the Eastern Cape on Wednesday, January 19,” she said.

He was charged with theft and appeared in Komani (Queenstown) magistrate’s court the next day.

The 30-year-old was remanded pending further investigation.

“The matter was transferred to the Palm Ridge specialised commercial crimes court and is expected to be in court on January 27 for a legal representative and bail application,” said Mulamu.

More arrests and additional charges have not been ruled out by the Hawks.



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