3 held, R10.5m assets seized
2002-11-19 12:02
Harrismith - A prominent businessman, his wife and his sister were arrested on Tuesday and property worth millions of rands seized in an early-morning raid by the asset forfeiture unit and the commercial crimes unit.
Sipho Ngwema of the forfeiture unit said the 36-year-old man, his 35-year-old wife and 27-year-old sister allegedly defrauded Caltex of more than R10m in a scheme in which the company's products, including diesel and petrol, were misappropriated.
The man was appointed by Caltex as its agent to manage the company's depot in Harrismith. His sister was employed as an administrative clerk responsible for the bookkeeping.
It is alleged they supplied Caltex products directly to farmers, transporters and the public through a close corporation registered in the wife's name. The money was allegedly misappropriated and Caltex was given false invoices.
Tuesday's joint raid followed an intensive two-year investigation by Caltex and the two units. The forfeiture unit was granted an order by the Bloemfontein High Court last week to attach property valued at about R10.5m.
Assets seized on Tuesday included petrol tankers, tractors, luxury motor vehicles, businesses, bank accounts, houses and farms.
Ngwema said the three were expected to appear in court on Tuesday on charges of theft and fraud.
- SAPA