15 years for Gqeberha trust accountant who stole R18m

The Gqeberha specialised commercial crimes court on Tuesday sentenced a former trust accountant to 15 years' imprisonment for theft of R18m. 

Liezel Badenhorst, 44, was employed by Du Toit Attorneys Incorporated in Gqeberha from 2008 until her resignation in 2023. 

National Prosecuting Authority spokesperson Luxolo Tyali said Badenhorst was responsible for managing the company’s client trust accounts, a fiduciary role that required her to safeguard client funds and ensure they were used solely for the intended legal purposes.

“However, between February 2018 and March 2023, Badenhorst exploited her position, using an internal banking system to transfer funds from the trust account into her personal bank accounts,” he said.

Badenhorst accessed the company’s banking system using unauthorised credentials and fraudulently altered banking details to divert funds for her benefit, Tyali said.

Upon discovery of the fraud, Badenhorst resigned on March 17 2023 and later admitted to the charges, citing a gambling addiction as the driving force behind her actions. She was arrested on July 24 this year. 

Eastern Cape director of public prosecutions Barry Madolo welcomed the sentence and emphasised the importance of holding individuals accountable for crimes.

“The sentence reflects the seriousness with which the justice system addresses financial crimes, especially when they involve breaches of fiduciary duty and the exploitation of client trust funds,” Madolo said.

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