Pretoria - The Nelspruit Specialised Commercial Crime Court has sentenced businessman Micheal Chimanzi, 56, to a wholly suspended eight years’ imprisonment.
Chimanzi and his company Chimanzi Investments, were in court on charges of fraud, theft and money laundering in connection with siphoning R2.6 million from the struggling power utility Eskom.
“The court approved an application for separation of trial from his co-accused, Nwabisa Ngxola and Cinderella Moropane, the former employees of Eskom who are out on bail. This resulted to the finalisation of the case again Chimanzi who was in custody since his initial arrest in 2018,” Mpumalanga Hawks spokesperson Captain Dineo Lucy Sekgotodi said.
“It is alleged that in November 2013, Eskom employees Ngxola and Moropane colluded with Chimanzi, the sole director of Chimanzi Investments, and submitted fraudulent invoices to Eskom for services which were never rendered.”
The proceeds of the fraudulent transactions were channelled to Chimanzi Investments’ business account, which prejudiced Eskom of R2.6m.
“During the sentencing, the court took into consideration that Chimanzi had already served four years’ imprisonment. Furthermore, the accused showed remorse and pleaded guilty from the beginning, without wasting state resources,” said Sekgotodi.
“Chimanzi, together with his company, were sentenced to eight years’ imprisonment, wholly suspended for five years, on condition that the he is not found guilty and convicted for similar offences during the period of suspension.”
The case against Ngxola and Moropane was postponed to May 2, 2023 for sentencing, and their bail was extended.
IOL