Former luxury car importer appears for alleged fraud

2015-08-18 18:37
James Xulu (Twitter)

James Xulu (Twitter)

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Cape Town - A former shipping manager who helped import Ferraris and Maseratis for a Cape Town business has appeared in court for allegedly transferring almost R3m of company funds to his personal account.

James Sibusiso Xulu, 37, was arrested on Sunday. He appeared in the Cape Town Magistrate’s Court on Tuesday, wearing a sweater and jeans.

Xulu's lawyer Ashley Vuyo Leeuw told the court that his home address had been confirmed and he was not a flight risk, but State prosecutor Andy Hess said they had been looking for him since last year and had eventually tracked him down with the assistance of Durban police officers.

She said when officers had not found him at his Umlazi home, they had left a message saying they were looking for him.

According to a draft charge sheet, Xulu worked for Viglietti Motors (now Scuderia SA) in Roeland Street and then one of its service provider companies Market Demand Trading 638, which was responsible for customs, excise and logistics.

The draft charge sheet alleged he transferred around R2.95m into his own account between March 2011 and July 2013.

“The accused disguised the said payments as payments to the complainant’s creditors,” the document stated.

Xulu resigned in August 2013.

He faces 34 counts of fraud, with an alternative theft charge.

The State asked the matter be postponed to obtain a proper bail profile.

Xulu would remain in custody at Pollsmoor Prison until August 24.

Read more on:    cape town  |  crime

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