A Durban man has been sentenced to 18 years behind bars for defrauding First National Bank of millions of rand.
The Durban Specialised Commercial Crimes Court sentenced Nadeem Arshad, 39, on Friday after he was convicted of 26 counts of fraud and one count of money laundering.
"Arshad and his two co-conspirators were account holders at FNB," she said."On the day of the offence, Arshad cashed several cheques issued by his co-conspirators. "As soon as the monies cleared, Arshad moved the money into various other accounts. On the one day alone, they defrauded FNB of R11,470,000.
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