Xolani enters into a lease agreement with Y Ltd on 20 September 2011. The officials of Y Ltd know Xolani very well: he has an excellent reputation in the market as being an honest person, and someone who is financially well-off. Y Ltd therefore does not require a deposit from Xolani when entering into the lease agreement with X. Xolani pays his rent for the first three months, but cheque for the fourth month, dated 30 January 2012, is returned by the bank as "account closed" on 20 January 2012. Y Ltd confronts X about this, who says it was a clerical mistake on the bank's part and that he will rectify the matter. Your investigation shows that Xolani personally closed his bank account on 20 January 2012. With reference to the elements and principles applicable to the crime of fraud, discuss in detail whether Xolani can be successfully prosecuted for fraud.

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