Orlando Pirates have lodged an urgent application at the Johannesburg high court to freeze R20.2m allegedly diverted from the club by former finance manager Darryl Joselowsky.
The Premier Soccer League (PSL) champions are seeking restrictions on four Standard Bank accounts linked to Joselowsky, while asking the bank to disclose where the money went and who received it.
The application was filed on September 22 by Orlando Pirates Football Club, Orlando Pirates Retailing and Orlando Pirates Properties against Joselowsky and Standard Bank. The club did not notify Joselowsky in advance, arguing that he could otherwise dissipate the alleged proceeds.
Pirates commercial manager Mpumelelo Khoza said in an affidavit that Joselowsky had worked for the club for more than 30 years and occupied 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.”
According to the affidavit, Joselowsky could independently capture, verify and release payment batches. That meant he could add beneficiary banking details, change payment descriptions and approve electronic transfers without a second authorisation.
The alleged irregularities were discovered in July during a review of the club’s management accounts, when cash proceeds did not match expected sales. An internal accountant then examined an inter-company payment after payment references appeared to describe legitimate supplier or rental expenses, although the amounts did not correspond with actual or expected payments.
Pirates contacted Standard Bank, whose monitoring systems had flagged potentially fraudulent transactions. The bank noted the use of Joselowsky’s operator code and differences between beneficiary names and verified account holders, and asked whether the payments had been authorised and reached their intended recipients.
Three accounts were initially identified for review: one belonging to Nursarela Investments CC and two registered to Joselowsky. A fourth account allegedly linked to him was later found.
Following meetings with Standard Bank’s forensic investigators, the club received raw electronic data for Pirates Group accounts covering 2016 to 2026. Forensic accountant Alida Louise Jordaan analysed the information.
The club alleges that R20.2m was transferred through unauthorised and fraudulent diversions into accounts controlled by Joselowsky. The wider records showed R43m moving into the four accounts between September 29 2016 and August 25 2026.
Khoza alleged that legitimate-looking descriptions were used to disguise the payments. In one example, a reimbursement requested by senior manager Nkosana Khoza for an employee’s laptop was paid from petty cash, but a later electronic transfer carrying his name was sent to Joselowsky’s personal account.
Jordaan’s schedule allegedly identified 742 separate payments totalling R8.5m in which descriptions falsely named beneficiaries. The affidavit says the amounts were kept sufficiently small to avoid attracting auditors’ attention.
The investigation also found apparent fraud involving payments to a dismissed employee, although the club said those transactions had not been fully examined.
Pirates claimed Joselowsky had acquired Austrian citizenship and an Austrian passport, and had travelled overseas frequently during the past year.
The club wants Standard Bank prevented from allowing withdrawals unless at least R20.2m remains across the accounts. It is also seeking full electronic and physical statements, including contra-account numbers, branch codes and beneficiary details.
Pirates intends to pursue repayment of R20.2m, interest and costs, and said criminal proceedings were also being pursued. The club argues that without an interim order the money could be moved through local and offshore accounts, making recovery impossible.
Joselowsky did not respond to repeated calls and messages. An estate in Glenhazel listed as his residence was visited, but security staff said they did not know anyone by that name. Orlando Pirates did not respond to questions, including whether a criminal case had been opened.
