Hildegard Steenkamp, Accused of Stealing R537 Million (Over $27 Million), Spent R5 Million (About $260,000) on Gambling in One Night

A woman who was found guilty of embezzling R537 million (Over $27 million) from her employer, reportedly spent R5 million (About $260,000) on gambling on a single night. 

This was disclosed during a hearing at the Johannesburg Commercial Crimes Court in Palm Ridge on Monday. 

Hildegard Steenkamp, who had admitted to 336 charges related to the theft from Medtronic (Pty) Ltd over a 13-year period, allegedly used a substantial portion of the stolen funds for extravagant spending and gambling. 

Graeme Dawes, a forensic investigator from Deloitte, testified about the extensive misuse of the embezzled money.

Dawes, along with a team of investigators including chartered accountants, was brought in to probe the case. 

He testified at the court hearing to provide insight into the aggravating circumstances surrounding the case.

Steenkamp's spending patterns were revealed through an analysis of bank statements. Dawes outlined that significant amounts were directed towards overseas travel, luxurious items, and gambling activities.

During the court proceedings, prosecutor advocate Tilas Chabalala inquired about the extent of money spent on gambling. 

Dawes replied that the curator had obtained reports from local gambling establishments, which highlighted substantial gambling activities. These included instances of gambling during Steenkamp's overseas trips. 

Notably, one particularly extravagant night of gambling reportedly consumed R5 million (Over $260,000)

Dawes further shared that Steenkamp's embezzlement methods included duplicating payments and transferring funds into her late husband's bank account. 

He noted that she managed to steal over R20 million (Over $1 million) in a single month. 

Steenkamp's husband, Mathys, passed away in 2016, and Dawes mentioned that the cause of death on the certificate was attributed to natural causes.

The court hearing is expected to continue with arguments in mitigation of sentence, during which Steenkamp will present her side. 

In a separate report, a teenager from Philadelphia has been arrested by the FBI on suspicion of plotting a terrorist attack. You can find the comprehensive account of the incident here.

[SOURCE]