Cyber-fraud accused appears in Walvis Bay Magistrate's Court

Cyber-fraud accused appears in Walvis Bay Magistrate's Court

A suspect accused of cyber-fraud by swindling money amounting to N$720 000 from a businessman appeared in the Walvis Bay Magistrate's Court today.
The 30-year-old Ricardo Nestor was arrested on Saturday in Oranjemund for allegedly hacking emails of a local businessman in Walvis Bay, Mancino Jose Do Santos.
The suspect, who was a former police officer in Rosh Pinah, allegedly replaced the victim's banking details with his, which resulted in a payment of N$720 000 into his bank account.
He withdrew some of the stolen money as legitimate cash, which he later transferred into the account of a foreign financial institution.
Nestor stands accused on charges of fraud and money laundering.
Investigation to recover the money is continuing.
During his court hearing, State Prosecutor Maggy Shiyaga-Lotto argued that the accused be denied bail as he might interfere with the investigations.
Magistrate John Sindano postponed his case to 5 March.