A group of employees at the South African State Theatre (SAST) in Pretoria have defrauded it of more than R20m.

They allegedly stole the money by manipulating the electronic banking system and diverting funds into their own bank accounts as well as those of other parties.

According to the SAST, the fraudsters deliberately framed others and apparently went around boasting they were not worried about being caught because the CFO and CEO "did the final signing off".

The modus operandi that has been happening for five years was uncovered following an undercover investigation.

A criminal case has been opened with the SAPS while one employee has been suspended.

According to a letter dated January 31 sent to staff by CEO Dr Sbongiseni Mkhize that Sowetan has seen, SAST was made aware of this by Absa on December 10, after a staff member in the finance department tampered with payment documentation and the electronic banking system.