The NPA’s Asset Forfeiture Unit (AFU) in the Western Cape has secured a forfeiture order of R11m after a senior accountant at the Foschini Retail Group (TFG) was duped into authorising payments totalling more than R22m to fraudulent bank accounts.

IoL reports that the forfeiture order was granted by the Western Cape High Court yesterday following an elaborate impersonation scam carried out in February 2025.

NPA spokesperson Eric Ntabazalila said a senior accountant in TFG’s Finance and Advisory Department, Johanna Rademan, received a WhatsApp message from an individual posing as the firm’s CFO, Ralph Buddle.

Rademan, lacking Buddle's contact details, believed the message was genuine due to the WhatsApp profile displaying his photograph.

‘The WhatsApp message advised Rademan that, following a board meeting, there were several key points that would impact TFG’s operations. The message further informed Rademan that she will have to sign a NDA so that Buddle can provide her with all the relevant details.’

Ntabazalila said Rademan subsequently received a WhatsApp call from a person who introduced himself as Gerald du Plessis, a lawyer who assisted Buddle with the proposed acquisition.

‘Du Plessis emailed the NDA to Rademan, and she signed it. Du Plessis called Rademan again and discussed the process to follow regarding tranche payments that are required to be made, and that the instruction will come from the CFO, Buddle,’ explained Ntabazalila.

TFG executives immediately contacted the company’s relationship managers at the two banks involved.

‘Both banks placed temporary holds on the accounts. Subsequent investigations confirmed that Buddle had no knowledge of ICUBED Distribution and had not authorised any payments. His cellphone number also differed from the one used by the fraudsters,’ said Ntabazilila.

One of the banks succeeded in reversing and returning R11.785m to TFG.

However, the remaining R11m was preserved following a court order obtained by Advocate Nodada-Gantolo in August 2025.

IoL notes that this was formally forfeited to the state in February 2026, preventing the suspects from accessing the funds.

Full IoL report