Orlando Pirates seek freeze on R20.2m in alleged fraud case

Reigning Premier Soccer League champions Orlando Pirates have applied to freeze more than R20m allegedly diverted from the club by its former finance manager, Darryl Joselowsky.

The club wants four Standard Bank accounts linked to Joselowsky frozen, with a combined balance of R20.2m, while it seeks details of the transactions and the people who benefited from them.

The application was filed in the Johannesburg high court on September 22 by Orlando Pirates Football Club, Orlando Pirates Retailing and Orlando Pirates Properties against Joselowsky and Standard Bank. It was brought without notice to Joselowsky, with the club arguing that advance warning could allow the alleged proceeds to be moved.

In an affidavit, Pirates’ commercial manager Mpumelelo Khoza said Joselowsky had worked for the club for more than 30 years and held a position of “extreme personal and fiduciary trust”.

“As finance manager, [Joselowsky] had complete responsibility for managing the bank accounts, payroll, supplier disbursements and financial ledgers.”

The affidavit says Joselowsky could independently capture, verify and release payment batches, enabling him to add beneficiary banking details, amend payment descriptions and make electronic transfers without secondary authorisation.

The alleged fraud was discovered in July during a review of the club’s management accounts, when cash proceeds did not match expected sales volumes. An internal accountant then identified an anomaly involving an inter-company payment.

“Payment references on bank statements reflected descriptions corresponding to legitimate supplier/rental expenses, but associated monetary figures did not tally with actual or expected supplier payments.”

Pirates contacted Standard Bank, whose monitoring systems had flagged potentially fraudulent payments. The bank highlighted the use of Joselowsky’s operator code and differences between beneficiary names and verified account holders, and asked whether the transactions had been authorised and whether the intended recipients had received the funds.

Three accounts were initially identified: one belonging to Nursarela Investments CC and two registered to Joselowsky. A fourth account allegedly connected to Joselowsky was later found.

Standard Bank subsequently supplied raw electronic data for Pirates Group accounts covering 2016 to 2026. Forensic accountant Alida Louise Jordaan analysed the information after meetings between the club’s executives and the bank’s forensic investigation team.

Khoza said the review found R20.2m in allegedly unauthorised and fraudulent diversions to accounts controlled by Joselowsky. Transaction logs also showed R43m moving from the club’s accounts into the four flagged accounts between September 29 2016 and August 25 2026.

Jordaan identified 742 payments totalling R8.5m whose descriptions allegedly misrepresented the beneficiaries. The affidavit says the amounts were kept sufficiently small to avoid attracting auditors’ attention.

One example involved senior manager Nkosana Khoza, who bought a laptop for an employee and sought reimbursement. Pirates alleges Joselowsky paid the amount from petty cash before transferring the same sum to his own account using Nkosana Khoza’s name as the reference.

The club also alleges further prima facie fraud involving payments to a former employee, although those transactions have not been fully investigated.

Pirates cited Joselowsky’s alleged Austrian citizenship, passport and frequent overseas travel as reasons for seeking urgent relief. The club says it plans to sue for R20.2m, interest and costs, and that criminal proceedings are being pursued.

It wants Standard Bank barred from allowing withdrawals unless at least R20.2m remains in the accounts, and is seeking complete electronic and physical statements, including account numbers, branch codes and beneficiary identities.

Joselowsky did not respond to calls or messages. Attempts to find him at a Glenhazel estate listed as his residence were unsuccessful. Orlando Pirates did not respond to questions, including whether a criminal case had been opened.