Christmas stokvel fraudster sentenced to 10 years, company fined R1 million

A Christmas stokvel scheme that promised members groceries, alcoholic beverages and household essentials has ended in a 10-year prison sentence for the founder, and a R1 million fine for the company.

Lebohang Mokatedi was sentenced by the Bloemfontein Regional Court on Thursday, October 15, after being convicted of multiple counts of fraud, theft and money laundering linked to a scheme that left members without the goods they had been paying for.

His company, Lebohang Society and Financial Credit Service, was also fined R1 million, wholly suspended for five years on condition that the company is not convicted on a cybercrime-related fraud offence during the period.

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The 31-year-old was sentenced to 15 years imprisonment, with five years wholly suspended granted that he is not convicted of the same offence during the period.

Fikiswa Matoti, Free State Hawks spokesperson, said Mokatedi introduced the Christmas stokvel in 2024, inviting members to contribute between R100 and R500 monthly for groceries, alcohol and household items during the festive season.

“Several people from Bloemfontein and Botshabelo joined the stokvel and honoured their monthly contributions. However, when the time came for Mokatedi to deliver the promised goods, he disappeared and failed to honour the arrangements made with the members.

“Several victims subsequently opened cases of fraud and theft against Mokatedi at various police stations in Bloemfontein and Botshabelo,” said Matoti.

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The initial investigations by detectives in Bloemfontein and Botshabelo were later taken over by the Hawks’ Serious Commercial Crime Investigation unit in Bloemfontein.

An intensive investigation led to Mokatedi’s arrest in KuGompo in the Eastern Cape.

His first appearance in court was in January 2025. He was convicted earlier in October 2026 on multiple counts of fraud, theft and money laundering.

While Mokatedi is set to serve a decade in prison, his company will not immediately have to pay the R1 million fine because the entire amount has been suspended for five years, subject to the court’s conditions.

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