· Who: Eunice Sibiya – personal finance commentator, life coach, public speaker, and ex-FNB Consumer Education Head.
· FNB Role (2010–2018): Led financial literacy campaigns; public face on radio (702, Kaya 959), TV, and print.
· Post-FNB: Independent financial/life coach and corporate MC (e.g., The Speakers Firm).
· Education: BCom in Marketing Management (University of Pretoria).
Legal Case (Ongoing – Palm Ridge Specialised Commercial Crimes Court)
· Origin: Scheme began in 2016. FNB’s internal forensic team flagged the contract in 2018, reported it to the Hawks, and Sibiya made a quiet exit from the bank shortly after.
· Charges: Originally 131 counts of corruption and money laundering against the syndicate.
· Amount: R86.9 million defrauded from FNB.
· The Scheme: Sibiya (as FNB rep) signed a fraudulent “consumer education agreement” with an outside communications firm – a front to funnel undisclosed kickbacks from that firm directly back to her.
· Sibiya’s Plea: Not guilty.
Parties Involved
· Sibiya (Primary Accused): Allegedly abused her corporate signing authority to execute the contract and personally benefited.
· Teddy Maduna (Co-Accused / Middleman): Received illicit funds from the communications firm, laundered them, and passed them to Sibiya. On 11 Dec 2024, pleaded guilty to 22 money-laundering counts. Sentenced to a choice of R30,000 fine or 1 year in prison, plus a wholly suspended 3-year sentence.
· MD (Unnamed Co-Accused): Executive head of the communications firm who colluded with Sibiya to sign off the R86.9m contract and authorize kickbacks.
· FNB (Complainant): The defrauded bank; its forensic investigators uncovered the anomalies and triggered the Hawks’ investigation.
