PostBank boss in another serious fraud case

‘Duo withdrew funds from deceased person’s account’
’MATHATO SEBOKA
MASERU – A top executive with the Lesotho Post Bank (LPB), currently facing fraud, money-laundering and corruption charges in a in a multi-million Maloti case faces fresh serious fraud charges in a separate case. A high-ranking executive of Lesotho Post Bank (LPB), ’Mathabo Tšehlo, 46, and former principal secretary in the Government of Lesotho (GOL), Tjoetsane Seoka, 49, faced serious fraud allegations as they appeared before Magistrate Thamae Thamae on Wednesday this week.
The duo allegedly established an account under someone else’s name and continued withdrawing funds from the account even after their victim was already dead. The courtroom buzzed with anticipation as the prosecutor, Makamane, began outlining the charges of manipulation and fraud that could expose a shocking web of deceit within the nation’s financial system.
As the hearing commenced, King’s Counsel (KC) Salemane Phafane, representing both accused, passionately argued for their release on bail. “These individuals are both Basotho citizens, and they have complied with all previous summonses from the Directorate on Corruption and Economic Offences (DCEO). They pose no flight risk and deserve the opportunity to prepare their defence without unnecessary restrictions.” The tension in the room heightened as Magistrate Thamae deliberated. After careful consideration, he granted bail set at M10,000, outlining clear conditions: Tšehlo and Seoka were prohibited from interfering with crown witnesses and were required to attend all remands, ensuring that they would ultimately stand trial to its conclusion.
At the heart of this dramatic case lies a controversial GOL car rental scheme, ostensibly designed to streamline vehicle hire for government operations. However, it is alleged that Tšehlo and Seoka conspired to exploit this system for their personal gain. They purportedly used the name of Mpho Francina Seboka, an unfortunate victim whose untimely death added a tragic twist to the narrative, to secure a lucrative contract. The manipulation began when they established an account at LPB under Seboka’s name. Reports indicate that they started withdrawing funds monthly, a shocking betrayal of trust and ethics that persisted even after her passing. The authorities froze the account due to the absence of necessary Know Your Customer (KYC) documents.
Yet, the accused managed to mislead officials into believing Seboka was still alive. On multiple occasions, they presented falsified KYC documents to the bank, demonstrating a calculated ability to manipulate the system for personal enrichment. From December 7, 2023, to September 14, 2024, Tšehlo allegedly exploited her position to engage in activities that directly contravened the laws governing her office, aiming to secure an undue advantage for herself and her accomplices.
Their conspiracy involved making false representations and concealing vital information they were legally bound to disclose, all in a bid to profit at the expense of the very citizens they were supposed to serve. In the separate initial case that continues to unfold in the Maseru Magistrate’s Court, the shadow of corruption looms even larger. Tšehlo faces additional charges alongside her superior, suspended Managing Director of Post Bank Lesotho, Molefi Leqhaoe, and another LPB executive, Chief Sales Manager ‘Mamohau Mapota.
They are embroiled in fraud, money laundering, and corruption charges involving a staggering M14 million. The trio appeared before Resident Magistrate Thabang Tapole, who released them on M10,000 bail each. The magistrate rebuked their lawyers’ request for a mere M1,000 bail, a clear indication of the court’s recognition of the gravity of the charges.
According to the DCEO’s charge sheet, their fraudulent scheme allegedly prejudiced the government by M10,582,995 and cost LPB M3,235,500. They were said to have run the scheme in collusion with officials from the Ministry of Finance and Development Planning, ensuring that their relatives were corruptly included to provide fleet services to the government since 2021.
Originally designed to empower Basotho entrepreneurs, particularly women and the disabled, the Basotho Fleet Scheme aimed to enable individuals with limited access to lucrative opportunities to acquire vehicles. However, the trio allegedly twisted this initiative into a personal cash cow, facilitating loans for cronies who did not meet the qualifying criteria.
LPB’s own policies explicitly excluded employees and their relatives from the scheme. Yet this did not deter Tšehlo, Leqhaoe, and Mapota from approving vehicle loans for several individuals closely related to them, including M440,000 for ’Malerato Tlalinyane and M475,000 for ’Mamorena Matsoso.
Their actions resulted in significant financial losses for LPB, which was already struggling to navigate a complex economic landscape.The implications of their alleged misconduct extend beyond the courtroom, resonating throughout society. The accused purportedly worked in cahoots with finance ministry official Folojeng Folojeng, ensuring that their relatives received priority for government contracts, exacerbating public outrage.
Citizens feel betrayed by those who are supposed to safeguard public resources. The perception of a 100 percent Basotho-owned and operated bank being utilised as a vehicle for corrupt practices serves as a stark reminder of the challenges faced in establishing a trustworthy financial system in Lesotho.