Frank Sibanda
and his wife, Francisca Netsai, both 65, squandered the windfall on an
extravagant shopping spree across Zimbabwe and South Africa after the funds
were erroneously deposited into Francisca’s account.
The couple was
convicted on 47 counts of theft by Bulawayo regional magistrate Mrs Dambudzo
Malunga. However, four years of their sentence were suspended for five years on
the condition that they avoid similar offences during that period. The
remaining three years were further suspended, provided the Sibandas repay the
stolen amount to Stanbic Bank through the clerk of courts by June 20.
In her ruling,
Mrs Malunga treated all 47 counts as a single offence.
“There is
overwhelming evidence that Stanbic Bank erroneously deposited the money into
Francisca’s account, after which she made unlawful withdrawals,” she said.
While the crime
carries a potential penalty of a Level 14 fine or up to 25 years in prison, the
magistrate cited mitigating factors, including the couple’s status as
first-time offenders, their advanced age, and Francisca’s poor health.
Mrs Malunga
also took into consideration that the elderly couple is taking care of their
six-year-old grandchild.
“You committed
a very serious offence, prejudicing Stanbic Bank of a substantial sum. However,
the court has tempered justice with mercy in the interest of fairness,” she
said.
The Sibandas’
lawyer, Mr Jabulani Ndubiwa of Mashayamombe and Company Attorneys, had urged
the court to consider a non-custodial sentence, citing Francisca’s serious
health complications and the couple’s responsibility for their six-year-old
grandchild.
The case
unravelled following a routine audit by Stanbic Bank’s forensic department,
which detected irregularities in the bank’s records, prompting the couple’s
arrest.
The prosecutor,
Mr Owen Mugari, told the court that the saga began on February 5 last year when
Francisca opened a Silver Banking account at the bank’s Joshua Nkomo Street
branch in Bulawayo.
Her daughter,
Rudo Sibanda, falsely claimed that Francisca was employed by her Harare-based
firm, Cominergy Construction Mining Energy, to facilitate the account opening.
Francisca was
issued a Visa card (number ending in 0711) linked to the account. On April 5,
she attempted a US$17,95 purchase at National Foods Bulawayo via a Steward Bank
ZiG POS machine, but the transaction failed. During the interbank settlement
process, Steward Bank processed a reversal through ZimSwitch, mistakenly
crediting Francisca’s US dollar account with an inflated ZWG579 116,21 which was equivalent to US$40 850, 86.
Realising the
error had gone unnoticed, the Sibandas embarked on a lavish spending spree.
Between April 30 and May 1 last year, they withdrew US$2 025 in cash from
Stanbic Bank in Bulawayo and racked up US$32 085, 47 in ATM and POS
transactions in South Africa. Their expenditures included trips to food and
beverage markets in Johannesburg’s Sandton suburb and visits to the trendy
Maboneng Precinct, known for its restaurants, boutiques, and art galleries
The offence was
later discovered by the bank, which established that between April 30 and May 1
last year, Francisca’s Visa card made cash withdrawals of US$2 025 at Stanbic
Bank in Bulawayo and several ATM and POS transactions amounting to US$32 085,47
in South Africa.
A report was
made to the police, and investigations led to the couple’s arrest. The total
amount stolen is US$34 110,47, and nothing was recovered. Chronicle
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