An alleged underground scheme to defraud 8Bet by an employee was uncovered, with a loss of about E246 000.
The police have arrested a 27-year-old man in connection with the alleged theft from the betting company. This was after the matter was reported to the police by the company’s finance manager on Wednesday.
Sources said the company’s authorities had discovered that a total amount of E246 000 had been unlawfully withdrawn from the company’s account and transferred into an account belonging to the employee.
8bet is a licensed betting company that offers customers the opportunity to place bets on a variety of sporting events and games. The company relies on an electronic payment system to manage customer transactions, including deposits and payouts.
Clients who win bets are paid through this system, which allows funds to be transferred directly into customers’ mobile money wallets or bank accounts, a method that was designed to provide quick, secure, and convenient access to winnings, reducing the need for cash transactions. Sources said only employees with authorised access are responsible for processing and overseeing these payments, making system integrity and security a critical component of the business.
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According to the police, during an investigation into the matter, the employee, whose name is deliberately withheld since he is yet to appear in court, allegedly stole money from the company over an extended period between 2024 and 2025. It is alleged that he manipulated the electronic payment system used by 8Bet to process payouts to customers. Through this system, he allegedly diverted funds into his own mobile money account in small, less noticeable amounts. These transactions are said to have accumulated to approximately E107 000.
The police further revealed that the remaining balance of the stolen money was allegedly transferred into a mobile money account belonging to the suspect’s brother. Investigators believe the suspect managed to unlawfully gain full access to company funds after copying his supervisor’s work password, allowing him to authorise and process payments without detection.
The alleged theft only came to light after the company experienced technical difficulties with its payment system. When the system was restored, irregular transactions were detected, prompting management to conduct an internal review. This review reportedly uncovered discrepancies pointing to systematic theft, leading to the involvement of the police.
On Wednesday, a formal police report was made, and investigations swiftly led to the suspect’s arrest later that afternoon. Police said further investigations are ongoing to establish the full extent of the losses and to determine whether any other individuals may have been involved.
Deputy Chief Police Information and Communications Officer Assistant Superintendent Nosipho Mnguni confirmed the arrest of the 27-year-old suspect whom she said is expected to appear in court soon to answer to the theft charges. She added that E30 000 of the stolen cash was recovered from the suspect following his arrest.
