Ex-finance manager pleads guilty to R0.5m fraud

A former finance manager of the Swapo-owned transport company Namib Contract Haulage has pleaded guilty to fraud that cost the company close to half a m i l l i o n Namibian dollars, notes a report in The Namibian. Eliphas Shivute (54), who was employed as the financial manager of Namib Contract Haulage (NCH) before being arrested by the Anti-Corruption Commission in June 2016, admitted guilt on 11 charges of fraud during an appearance before Windhoek Regional Court Magistrate Alexis Diergaardt last week. Shivute admitted that on 11 occasions, starting in November 2012 and ending in June 2016, he falsely pretended to NCH that he was entitled to cheques issued by the company, and in the process received various payments of funds from the company. The 11 payments that Shivute obtained fraudulently came to a total amount of N$454 242.He is out on bail of N$7 500 and is due back in court tomorrow (Friday).

Full report in The Namibian