RUNDU – An employee of Standard Bank, who allegedly embezzled about N$1.7 million belonging to the bank during the period 1 August 2021 to 31 August 2022, was denied bail on Tuesday at Rundu.
Mario Santos was charged with theft and concealing or disguising unlawful origin of property (money laundering) when he appeared before Rundu magistrate Sonia Samupofu.
The State objected to bail as the State fears that he will interfere with state investigations, and because the charges against the accused are serious.
The State also indicated it has a strong case against the accused and if found guilty, the he might be sentenced to a lengthy sentence thus fear he might abscond due to that.
Before his case was remanded for 25 January 2023 for further investigations and for him to get a lawyer of his choice, the court explained to the accused his right to a formal bail application.