In a significant operation, the Asset Forfeiture Unit, in collaboration with the Directorate for Priority Crime Investigation (Hawks), targeted multiple properties across Roodepoort, Randburg, Krugersdorp, and Pretoria. The properties are linked to 15 suspects implicated in a staggering R157 million fraud and theft scheme targeting Nedbank. The operation is part of an ongoing investigation into the extensive five-year crime spree, which spanned from July 2018 to January 2023.
According to Phindi Mjonondwane, spokesperson for the National Prosecuting Authority (NPA) Gauteng, the seized assets, valued at approximately R33 million, are being secured to protect the interests of the victims and prevent the suspects from dissipating the proceeds of their crime. The properties under scrutiny include houses, sectional title units, a smallholding, and a diverse range of high-value assets. Among the seized items are 77 vehicles—comprising luxury sedans, motorcycles, and utility vehicles—along with cash held in bank accounts and business interests tied to the suspects.
In addition to the properties and vehicles, authorities have uncovered an array of high-end items. These include gold and silver jewellery, luxury wristwatches, designer clothing, laptops, and cellphones. Cash totaling around R80,000, as well as a cash counting machine, have also been seized. More concerning, however, is the discovery of firearms, including licensed handguns, assault rifles, and over 2,000 rounds of ammunition, raising further alarms about the scale of the operation.
Among the key figures implicated in this massive fraud scheme is Nicolette de Villiers, a former investigator in Nedbank’s Group Financial Crime Forensics and Security division. Reports suggest that de Villiers exploited her position to facilitate fraudulent transactions. She allegedly transferred funds from suspense accounts, which were meant to compensate legitimate fraud victims, into accounts controlled by her accomplices, while falsely claiming that the funds were owed to them.
Lucas Keitumetse Mathimbi, another central figure in the investigation, is accused of personally receiving more than R91 million through various transactions into his accounts. These included personal and business accounts for his companies, Ivy League Group (Pty) Ltd and IVL Guards (Pty) Ltd, both of which he solely controls. The properties and assets linked to Mathimbi alone include 11 immovable properties, such as houses and sectional title units, and 27 vehicles. Notably, one of the secured properties is registered in the name of a minor child, further complicating the web of deceit.
Investigations have revealed that many of the recipients of the illicit funds passed on portions of the money to others within the criminal network, amplifying the complexity of the scheme. It is alleged that de Villiers herself received approximately R6 million in stolen funds. Once the fraud was discovered, de Villiers was dismissed from her position at Nedbank.
The authorities have placed an interim restraint order on the seized assets, ensuring that they remain secured while the legal proceedings continue. Despite the gravity of the charges, all the accused have been granted bail and are scheduled to appear in the Palm Ridge Regional Court on March 26, 2025.
This operation highlights the growing sophistication of financial crimes and the collaboration between various investigative units to dismantle large-scale fraud networks. The case continues to unfold, with further arrests and asset seizures expected as the investigation progresses.
