I Blew It: Boksburg Woman Left Penniless After Stealing Half a Billion Rand From Employer
A Boksburg woman has left South Africans in disbelief after swindling a whopping half a billion Rand.
Hildegard Steenkamp made off with R537 million from her employer, kicking off her thieving spree just six months into her role as a junior accountant at Medtronic in 2004.
There were instances where she’d pocket over R20 million per month.
One might have thought she’d turn a new leaf after pocketing such a fortune, but her life isn’t any better than it was before the heist.
The court learned that she squandered the money on gambling and a lavish lifestyle. Even though the Asset Forfeiture Unit seized Steenkamp’s possessions, not a dime was recovered. The final tally of seized assets barely scraped below R30 million.
The Johannesburg Commercial Crimes Court, stationed in Palm Ridge, was told that she threw away R5 million on gambling in a single night.
How Boksburg Woman Stole Half A Billion From Her Employer
Steenkamp faced up to 336 charges linked to her pinching R537 million from her post as an accountant at Medtronic (Pty) Ltd, spanning a 13-year stretch.
Between 2004 and December 2016, Steenkamp swiped R537 million through 336 transactions. She waved goodbye to her job in January 2017.
She’d clone payments and funnel the cash into her late husband’s bank account. Mathys, her late husband, passed away on December 14, 2016, due to a mishap during a holiday at Sun City Resort in North West.
The money bankrolled fruitless business ventures.
Her final haul came in two separate transactions of R6 million each in December 2016.
Despite Medtronic nursing a loss of nearly R770 million due to Steenkamp’s escapade, the company was able to soak it up, given its international stature and considerable financial backing.
Medtronic specializes in importing medical devices.