Grey Freight Continental
Freight and custom clearance services locally, regionally and internationally. We offer freight services at strategic Southern African ports and borders.
OpenElderly Couple Jailed For Exploiting Bank Glitch To Steal US$34,000
An elderly couple from Bulawayo, Frank Sibanda and his wife, Francisca Netsai, both 65, were sentenced to seven years in prison on March 26, 2025, for embezzling over US$30,000 from Stanbic Bank Zimbabwe.
Due to a technical glitch, the bank mistakenly deposited the funds into Francisca’s account, and the couple exploited the error, withdrawing US$34,110.47 and spending it on extravagant shopping trips in Zimbabwe and South Africa.
The couple was convicted on 47 counts of theft, and the court suspended four years of their sentence for five years on the condition of no similar offences.
The remaining three years are suspended if they repay the stolen amount to the bank by June 20.
In her ruling, Bulawayo regional magistrate Dambudzo Malunga said that the court considered their advanced age, Francisca’s health problems, and their responsibility for their six-year-old grandchild, and the fact that they are first-time offenders, in reducing the sentence. She said:
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.
The Sibandas’ lawyer, Jabulani Ndubiwa of Mashayamombe and Company Attorneys, argued for a non-custodial sentence due to Francisca’s health complications and their caregiving responsibilities.
The couple’s crime was discovered during a routine audit by Stanbic Bank. The bank noticed some strange transactions in their records, which led to an investigation and the couple’s arrest.
The story started on February 5 2024, when Francisca opened a bank account at Stanbic Bank in Bulawayo.
Her daughter, Rudo, lied about Francisca working for a company in Harare to help open the account. Francisca was then given a Visa card linked to the account.
On April 5, Francisca tried to make a purchase for about US$17.95 at a store in Bulawayo, but the transaction didn’t go through.
However, due to a mistake during the bank’s process, Francisca’s account was wrongly credited with more than US$40,000 (US$40,850.86) instead of the correct amount.
Realising the mistake, the couple decided to spend the money. Between April 30 and May 1, they withdrew US$2,025 in cash from Stanbic Bank in Bulawayo and spent US$32,085.47 in South Africa.
They went on shopping trips to places like Sandton and Maboneng, known for their markets and trendy spots.
The bank later noticed the irregular transactions and reported it to the police. After investigating, the couple was arrested. In total, they stole US$34,110.47, and the money was never recovered.
More: The Herald
Tags
