Winnie Madikizela-Mandela might know by Friday night how she will be punished for defrauding Saambou Bank of thousands of rands and stealing some more from loan applicants.

On Thursday the Pretoria Regional Court convicted the African National Congress Women's League (ANCWL) president on 43 counts of fraud and 25 of theft.

Her co-accused, broker Addy Moolman, was found guilty on the same charges, plus 15 more of fraud.

After the judgment was given, prosecutor Jan Ferreira asked for, and was granted, a postponement until Friday for arguments in aggravation and mitigation of sentence, as well as possible sentencing.

Magistrate Peet Johnson found Moolman had submitted loan applications containing false information to Saambou Bank and brokerage firm Imstud.

Accompanying the application forms were letters on the ANCWL letterhead, with Madikizela-Mandela's signature, Madikizela-Mandela, stating that the applicants worked for the league, while they did not. In 16 of 60 cases it was found that her signature had been forged on the letters.

Johnson also found that Moolman had arranged for premiums to be deducted from loan applicants' bank accounts for a non-existent funeral policy. Madikizela-Mandela, who knew about this, later used the money to pay the salary of an employee of hers, it was found.

With acknowledgements to Sapa.