Zimbabwean Accountant’s R17m Heist Unravels in South Africa

Zimbabwean Accountant’s R17m Heist Unravels in South African
A former accountant for Johannesburg-based non-profit Education and Training Unit (ETU), Edward Mwanandimai, faces legal heat for allegedly embezzling over R17 million during his six-year tenure. The shocking revelations came to light after his resignation in May 2020, triggering the ETU’s application for the sequestration of Mwanandimai’s estate in the North Gauteng High Court.
Mwanandimai, a member of the UK-based Association of Chartered Certified Accountants, initially admitted to stealing R6.8 million in 2020, repaying the amount. However, subsequent investigations uncovered a staggering R17.1 million misappropriation. Court documents reveal that Mwanandimai exploited ETU’s online banking system, diverting payments meant for creditors to his personal or company accounts.
Despite signing an agreement to repay R11 million over six years, Mwanandimai’s admissions were deemed inadmissible in court due to legal technicalities. Judge Soraya Hassim issued a provisional order to sequestrate his estate, citing insufficient defense against the allegations. Zimbabwean Accountant’s R17m Heist Unravels in South African
The case underscores the non-profit’s struggle to recover stolen funds and raises questions about whether criminal charges will follow. Mwanandimai and his attorneys declined to comment, while the ETU remained silent on further legal actions. The saga continues, with the court set to deliberate next Friday.