Financial fraudster appears in court for R14 million theft

A 32-year-old man accused of stealing more than R14 million from a company he worked for has been granted bail in the Gqeberha New Brighton District Court.

Storm Denim Samuel Karlin made his first court appearance on Tuesday and was granted R10 000 bail.

Hawks spokesperson Lieutenant Colonel Avele Fumba said the case was postponed to 4 April 2025 for further investigation.

Arrest

Karlin was arrested by the Hawks’ Gqeberha Serious Commercial Crime Investigation team, in collaboration with the National Prosecuting Authority (NPA).

He was arrested on Tuesday.

The case stems from Karlin’s tenure as a Financial Manager of a business entity between July 2018 and May 2024.

According to Fumba, Karlin allegedly had access to the company’s business bank account and was apparently authorised to execute and release payments using his credentials.

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‘Discrepancies’

Fumba said reports highlighted suspicious discrepancies in the company’s financial records, which raised red flags and prompted the Hawks to urgently refer the matter for an in-depth investigation.   

“The Gqeberha Hawks conducted a thorough probe and revealed that Karlin allegedly manipulated the accounting system to misappropriate company funds.

“It is further alleged that the suspect unlawfully and intentionally transferred substantial amounts into two bank accounts linked to him, resulting in financial prejudice to the company of more than R14 million.

“The accused appeared before the Gqeberha New Brighton District Court on 28 January 2025 for his first court appearance and was granted bail of R10 000.

“The case has been postponed to 4 April 2025 for further investigation,” Fumba said.

Financial crimes

Fumba said the provincial head of the Hawks, Major General Mboiki Obed Ngwenya, praised the investigative team for their hard work.

“He emphasised that such cases highlight the Hawks commitment to eradicating sophisticated financial crimes that undermine the economic stability of businesses,” Fumba said.

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