Cape Town accountant sentenced to 15 years for R17m fraud scheme - EWN

A Cape Town accountant who stole more than R17 million from her employer was sentenced to 15 years behind bars.

Cassandra Labuschagne was convicted on 134 counts of theft and money laundering after defrauding a Cape Town travel company over a five-year period.

Labuschagne used 19 bank accounts to filter the money from the company’s coffers.

Western Cape police said accountant Cassandra Labuschagne created a fake platform on her previous employer’s banking system, allowing her to access accounts and channel funds into a company she had registered herself.

The fraud, amounting to more than R17.3 million, was uncovered during forensic audits.

The case was investigated by the Western Cape commercial crime investigation unit, which obtained subpoenas for 19 bank accounts linked to Labuschagne’s scheme.

Police spokesperson Ndakhe Gwala said: “She was arrested in September 2025 and remained behind bars after bail was successfully opposed. Labuschagne entered into a plea and sentence agreement and was sentenced to 15 years' direct imprisonment.”

Gwala added that Labuschagne was also declared unfit to possess a firearm.

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