CONVICTED fraudster
Magda Visser won’t be
spending any time in jail
after pleading guilty to fraud
and foreign exchange theft,
totalling R2,6 million in
March.
Magda appeared for
sentencing in the Knysna
Regional Court on June 22
and received a sentence
of eight years, with five
years suspended and three
years under correctional
supervision, during which
she will need to complete
16 hours of community
service a month.
Kananelo Makhetha,
ceo of Travelex Africa, told
TNW the sentence was
disappointing, given the
magnitude of the fraud.
“We would’ve preferred a
custodial sentence.”
Magda committed the
fraud during 2011 and
2012, while she was
employed at Travelex
(formerly FX Africa Foreign
Exchange).
