High court orders Asset Forfeiture Unit to return R1.7m stolen in online pension scam

The Asset Forfeiture Unit (AFU) has obtained a high court forfeiture order returning R1.7m stolen through an online pension scam to the victim. The order was granted by the high court in Makhanda and applies to funds held in a Standard Bank account under the name Mandisa Ntauzana (Pty) Ltd.

How investigators traced the funds

The case began after discrepancies in a beneficiary’s records prompted an employee at Dold and Stone Attorneys in Port Alfred to follow up with the Consolidated Retirement Fund (CRF) on 14 January 2025. According to the CRF,

“On 18 February 2025, the CRF advised that a portion of the pension benefit had already been paid to the victim on 16 January 2025, while the remaining portion had allegedly been paid directly to the victim on 19 December 2024.”

Further verification showed that payment instructions had been received via an email that purported to come from the victim and directed transfers into a Standard Bank late estate account. Investigators found the instruction was fraudulent:

“The email and banking details did not belong to the victim.”

A proof of payment for R1.7m was issued and the funds were transferred, but the victim received none of the money.

Legal steps and co‑ordinated response

The state first secured a preservation of property order on 22 January 2026. The Financial Intelligence Centre (FIC) ran a parallel investigation and traced the January 16 transfer into the Standard Bank account; the FIC placed a temporary freeze on the funds pending the preservation order.

National Prosecuting Authority spokesperson Luxolo Tyali said the high court declared R1.7m forfeited to the state and payable to the victim. He added:

“The funds, plus any accrued interest, must be reimbursed to the victim the sole beneficiary of the targeted pension benefit.”

The NPA praised coordinated work by the South African Police Service, the FIC, banking institutions and the AFU in tracing, preserving and forfeiting the proceeds. Tyali said:

“This outcome reinforces the commitment of law enforcement agencies to ensure that cyber-enabled financial crimes are effectively disrupted, perpetrators are deprived of the proceeds of crime, and victims are duly protected and reimbursed.”

Reaction from prosecutors

Acting director of public prosecutions in the Eastern Cape, adv Samkelo Mtwana, commended the outcome and the successful forfeiture.

What this means

The high court order returns the seized funds to the victim and illustrates the legal and investigative steps taken when pension benefits are diverted by fraud. The matter involved tracing a sophisticated online scheme, freezing the proceeds and securing a forfeiture order to reimburse the victim.