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Cape Town accountant Cassandra Labuschagne gets 15 years for R17m theft from employer via fake banking platform

Eyewitness News (EWN) reported on 11 November 2026 that Cape Town accountant Cassandra Labuschagne was sentenced to 15 years' direct imprisonment after being convicted on 134 counts of theft and money laundering for d…

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Source: ewn.co.za · published

What happened

Eyewitness News (EWN) reported on 11 November 2026 that Cape Town accountant Cassandra Labuschagne was sentenced to 15 years' direct imprisonment after being convicted on 134 counts of theft and money laundering for defrauding a Cape Town travel company, her employer, over a five-year period. Western Cape police said she created a fake platform on her previous employer's banking system that let her access accounts and channel funds into a company she had registered herself; the fraud, more than R17.3 million, was uncovered during forensic audits. The Western Cape commercial crime investigation unit subpoenaed 19 bank accounts linked to the scheme. Police spokesperson Ndakhe Gwala said she was arrested in September 2025, was held after bail was opposed, and entered into a plea and sentence agreement. She was also declared unfit to possess a firearm.

How the scam works

EWN reported that Cassandra Labuschagne, a Cape Town accountant, was convicted on 134 counts of theft and money laundering after taking more than R17 million from her employer, a travel company, over about five years, and was sentenced to 15 years in prison. The report describes a fake banking platform and multiple bank accounts used to move the money.

Employers can reduce this kind of risk by separating payment-approval duties, reviewing unusual transfers and confirming any 'new banking platform' directly with the bank on a number they already have. Staff who are asked to move company funds in a new way should escalate the request rather than follow it in silence.

Source

EWN, 11 November 2026: https://www.ewn.co.za/2026/11/11/cape-town-accountant-sentenced-to-15-years-for-r17m-fraud-scheme

https://x.com/ewnupdates/status/2120507706209349860

Red flags

  • An employee who asks colleagues to use a new or unofficial 'banking platform' to move company funds.
  • Transfers into accounts the employer did not already use, especially if approval duties are not separated.
  • This report is about a completed South African sentence, as reported by EWN on 11 November 2026.
  • Unusual or repeated transfers that are hard to reconcile with invoices.

If you were targeted

  1. 1Separate payment-approval duties and review unusual transfers.
  2. 2Confirm any new banking platform directly with the bank on a number you already have.
  3. 3Staff asked to move company funds in a new way should escalate the request.
  4. 4If you think your organisation was affected, take legal and forensic advice and contact the police.
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