“With the proceeds of crime, he bought himself luxury items and an expensive lifestyle. After internal investigations by Sanlam, Tshotlang was arrested on June 29 2021 and has been in custody since, after the NPA successfully opposed bail,” said Mahanjana.
Tshotlang pleaded guilty to the charges and expressed remorse. But prosecutor advocate Tshepo Nkadimeng argued Tshotlang was in a position of trust and abused it by “stealing millions from his employer because of greed and his desire to live a life of opulence”.
“The magistrate agreed with the state and said the consequences of Tshotlang’s crime were severe. The money stolen was investments of people with an understanding that they will financially gain. Moreover, his conduct tarnished the image of Sanlam among its investors and clients. Therefore, the sentence given was appropriate,” said Mahanjana.
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Sanlam administrator who stole R6.1m in pensions gets 15-year sentence
Image: 123RF/Olivier Le Moal
A Sanlam employee who swindled investors out of R6.1m in pensions has been jailed for 15 years.
The Pretoria specialised commercial crime court sentenced Loyd Koketso Tshotlang, 34, this week for 16 counts of theft.
As a senior administrator at Sanlam, since 2019, Tshotlang's duties included the processing and payment of employee benefits as instructed by investors.
Lumka Mahanjana, spokesperson for the National Prosecuting Authority (NPA), said between June 2020 and June 2021, Tshotlang “processed and paid pensions and provident funds meant for investors or members to his account for his personal use”.
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“With the proceeds of crime, he bought himself luxury items and an expensive lifestyle. After internal investigations by Sanlam, Tshotlang was arrested on June 29 2021 and has been in custody since, after the NPA successfully opposed bail,” said Mahanjana.
Tshotlang pleaded guilty to the charges and expressed remorse. But prosecutor advocate Tshepo Nkadimeng argued Tshotlang was in a position of trust and abused it by “stealing millions from his employer because of greed and his desire to live a life of opulence”.
“The magistrate agreed with the state and said the consequences of Tshotlang’s crime were severe. The money stolen was investments of people with an understanding that they will financially gain. Moreover, his conduct tarnished the image of Sanlam among its investors and clients. Therefore, the sentence given was appropriate,” said Mahanjana.
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