Man sentenced to eight years in prison for fraudulent bank loan
The Limpopo Specialized Commercial Crimes Court has sentenced a fraudster to eight years in prison for using false documents to secure a R451,000 car loan.
The Hawks said Dumisane Jan Mbokodo, 32, applied for a vehicle finance loan online from First National Bank (FNB) through a Toyota dealership in Polokwane, Limpopo.
The request was processed, approved and the vehicle was successfully delivered to Mbokodo in Mpumalanga.
“The bank became suspicious when the defendant failed to honor his first payment and began to review his claim.
“It has been discovered that the accused used fraudulent documents to apply for a loan to finance a vehicle,” spokesman Captain Matimba Maluleke said.
A fraud case was opened and then turned over to the Hawks Major Crimes Unit for investigation.
The search for Mbokodo ended in January last year when he was apprehended at his home in Kanyamazane, Mpumalanga.
He was released on 5,000 rand bail and stood trial in Polokwane until sentencing on Friday.
Investigators have yet to recover the vehicle and have since released it as stolen.