/ 20 June 2001

SA SWINDLER SENTENCED TO 1,620 YEARS IN JAIL

A South African court on Monday sentenced a former building society manager to 1,620 years in prison for fraud involving more than $40-million. The Johannesburg High Court sentenced Vito Assante, 50, a former branch manager of the Natal Building Society, to 15 years’ imprisonment on each of 108 charges of issuing investor certificates worth R350-million between 1994 and 1996. Assante maintained he was innocent and had received nothing from the deal. Officials said he would be able to apply for parole after serving about 24 years. – AFP