Business In The News

FNB financial advisor ordered to pay back money stolen from clients

PORT ELIZABETH, April 12  – A Zimbabwean national who was employed at First National Bank (FNB) in Port Elizabeth as a financial advisor  has pleaded guilty to charges of theft.

Forgive Sibanda, 27, stole money from clients in January and February this year and was arrested on Tuesday.

On Wednesday, he pleaded guilty in the Port Elizabeth Commercial Crimes Court to charges of theft involving R93 000.
In his plea explanation, Sibanda, who worked at FNB’s Newton Park branch, admitted to gaining access to several of his clients bank account details. After gaining access to the accounts he transferred money to his own account, to a friend’s bank account and to a bank account belonging to his church.
Magistrate Johannes Claasen sentenced him to 5 years imprisonment suspended for five years. Sibanda was also ordered to pay back the money within three months.

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