Almost one year after being found guilty of theft of R500 000, Richards Bay businesswoman Rhana Naicker was sentenced to 10 years’ imprisonment by Ngwelezana Magistrate’s Court in KZN, reports Zululand Observer.

Two years of her 10-year sentence are wholly suspended for a period of five years on condition that she is not convicted of theft during the period of suspension.

Charged in July 2022, Naicker illegally acted as a broker in 2017 for the sale of shares in the then Caltex Alton Garage franchise, where the complainant paid R500 000 for fraudulent shares.

While initially facing charges relating to fraud, money laundering, forgery and uttering, Naicker was found guilty only on the charge of theft.

The court heard how Naicker and the complainant had been friends and purchased shares in the fraudulent deal.

Her 1985 fraud conviction was highlighted by State Prosecutor Jomo Ngcobo, who also said she lacked remorse.

He also cited her several pending cases of fraud, and said she was not a candidate for rehabilitation as she was likely to reoffend.

Throughout the trial, Naicker elected not to testify. The matter was investigated by KZN Provincial Commercial Crimes Unit section commander Lieutenant Colonel VC Pillay, who is based in Richards Bay.

A victim impact statement detailing the devastating impact the ordeal had on the complainant highlighted severe trauma, declining health and financial loss.

The complainant had made attempts to recover her money before opening a criminal case, as they had known each other for many years and shared common religious beliefs.

She went on to detail how this ordeal had affected her emotional and psychological well-being.

She said the emotional stress manifested in physical ailments and depression, and she was booked off work long-term owing to her declining health.

She suffered immense financial loss as she had taken funds from her bond and had to continue making these payments at high interest.

This affected her business and her staff as she could not give them bonuses or annual increases.

Meanwhile, Naicker is involved in several unrelated cases of fraud.

National Prosecuting Authority KZN Regional Spokesperson Natasha Ramkisson-Kara has welcomed the sentence, saying she trusts that it sends a deterrent message that crimes of this nature will not be tolerated.

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