North West Specialised Commercial Crimes Court sitting in Molopo has sentenced former financial co-operative chair Patrick Segalo to five years’ direct imprisonment for defrauding community fund of over R1 million.
The 52-year-old pleaded guilty to seven fraud and seven money laundering charges stemming from his leadership of Motswedi Financial Services, which managed pensions, loans, and social grants for local residents.
Between November 2020 and October 2021, Segalo illegally transferred funds to accomplice Shoheb Shaick through shell company Seleri Enterprise.
Shaick received separate conviction last year.
The Court consolidated all charges, imposing concurrent sentences totaling five effective years and revoking Segalo rights to own firearm.
Senior State Advocate Theo Moetaesi highlighted the scheme’s devastating community impact during sentencing arguments, noting eroded trust and financial harm. Magistrate Okaeng Mothibi observed Segalo showed no genuine remorse despite his guilty plea, particularly given his position of authority.
North West Director of Public Prosecutions Rachel Makhari welcomed the ruling as a deterrent against trust abuse.
“This sentence sends a strong message to those exploiting vulnerable communities,” she stated, reaffirming the National Prosecuting Authority commitment to combating commercial crime.
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