EXPERTS SOUTH AFRICA Nine-year jail term for woman who defrauded companies to pay gambling debt 1 month ago Szarlot Post Views: 93 A woman was jailed after she was found guilty of defrauding two companies of around R16 million to pay off her gambling debt. The Durban Specialised Commercial Crimes Court sentenced Cindy Saunders, 37, to an effective nine years in prison after she pleaded guilty to 45 counts of fraud. In her plea, she said she was an export controller at RenCorp CC, which trades as Nicholson Shipping. She admitted to having a gambling addiction and added that she committed the fraud to pay off her gambling debt. She enlisted the help of her co-accused, Terrance Gonasekharan Raju, and his companies, South Continent Logistics and Troy Trans, National Prosecuting Authority spokesperson Natasha Ramkisson-Kara said. “As part of the fraudulent scheme, Saunders generated false invoices. Saunders said in her plea that at the time of the commission of the offences, she knew that her actions were fraudulent and solely for her personal financial gain and that of her co-accused.” “She and her co-accused also defrauded [the second company] by telling them that she needed a business partner to assist with financing the purchase of shipping containers from South Continent, promising them profits when the containers were sold. She admitted to doing this with full knowledge that [the company] would not be paid back the money.” – Ramkisson-Kara said. In presenting the State’s case, senior State advocate, Danette Cole, called the complainant to testify, as well as an accountant, who outlined the extent of the damage that the fraud had caused to the businesses. “In sentencing Saunders, the court took into consideration that she had a gambling addiction and had sought counselling to rectify the problem and improve her life,” – Ramkisson-Kara said. Source: news24.com About Post Author Szarlot I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. See author's posts SzarlotI am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry. Facebook Twitter LinkedIn Email Print Tags: fraud, gaming addiction, South Africa Continue Reading Previous Nigeria’s Inflation Beats Expectations, Spikes by 21.82% in JanuaryNext Get Ready for Africa 2023 More Stories EXPERTS WORLD NEWS How has the gambling industry changed so far in 2023? The 7 biggest stories 4 hours ago Iwo Bulski LOTTERIES SOUTH AFRICA Sport federations see light at end of tunnel 9 hours ago Szarlot EXPERTS UGANDA Everything You Need to Know About the Gambling Industry in Uganda 9 hours ago Szarlot EXPERTS The future of sports betting: AI-powered predictive analytics 1 day ago Samuel CASINO SOUTH AFRICA Downtown Hazyview is a hub for criminal activities 1 day ago Szarlot EXPERTS WORLD NEWS What does the UK’s involvement look like in African business today? 2 days ago Szarlot EXPERTS NIGERIA GamStop And Responsible Gambling in Nigeria 2 days ago Szarlot EXPERTS KENYA KRA gains more from gaming and betting collections 2 days ago Iwo Bulski ONLINE SOUTH AFRICA Best Highroller Casino South Africa 2023 2 days ago Szarlot EXPERTS KENYA Betting firms inflating sponsorships to avoid taxes 2 days ago Szarlot EXPERTS NIGERIA Is the Cryptocurrency Noise in Nigeria Gradually being Silenced? 3 days ago Samuel EXPERTS KENYA Kenyan Govt Invites Public Submissions in the Creation of National Lottery 3 days ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.