News24

Hawks probe 2 Cape Town businessmen

2011-12-02 22:40

Cape Town - Police spokesperson FC van Wyk said on Friday that the Hawks' commercial crimes unit had launched a probe into the financial affairs of two company directors who had allegedly embezzled millions of rands.

Van Wyk said: "Senior unit investigators are in possession of sensitive documentation which indicates that a 50-year-old Cape Town company director allegedly committed tax-related fraud involving Sars to the tune of R942 838."

The businessman was a former financial consultant who dealt with pension money belonging to a well-known clothing industry trade union.

"The company director is also linked to invoice fraud involving R7m pertaining to two companies.

"According to records, value added tax (VAT) monies had not been paid to Sars but channelled elsewhere."

The second company director, a 42-year-old man, allegedly siphoned a large amount of cash from an empowerment trust into his personal account.
"Allegations against him amount to theft from the trust and its assets involving R15m.

"Investigations are ongoing."

The men are expected to appear in court on Monday.

Comments
  • Hunter - 2011-12-03 07:24

    Greed is terrible thing.

  • Comrade - 2011-12-03 07:25

    DONT MESS WITH THE LAW IN THE WESTERN CAPE!

  • jan.roodt1 - 2011-12-03 07:42

    Always the poorest of the poor who are the victims and who are the loosers at the end of the day.

      maureen.bryden - 2011-12-03 18:05

      Agree 100% Jan. But as an old lady who is besotted with the English language, LOSERS is spelt with only one O! No offence meant hey! xxx

  • Winsome - 2011-12-03 08:24

    I hope they go to jail for a long time. Most of us pay our taxes in full on time - sometimes with financial difficulty - but these crooks seem to get away with so much - these two are merely the tip of an enormous iceberg.

  • Hugh - 2011-12-03 09:49

    This was brought to public attention almost two years ago. Amazing how SARS is always way behind when it comes to getting their due from crooks but quick to claim R0.49cents with penalty from any short fall made by the private person. It is disconcerting that it seems that every government aligned person from the President to Malema was only investigated by SARS when the chips reached public domain. These sums reach the millions when the man in the street in relation owe pennies.

      Shirley - 2011-12-03 12:51

      Very true! Even when it is brought to their attention they hum and ha for a year or so before they actually do something!

  • Enlightened - 2011-12-03 12:50

    Lock them up and let them rot. If this is done whenever fraud, corruption and the likes are uncovered, the message will eventually sink in. Whilst these crimes can never be eradicated 100 %, it will definitely reduce the number of people willing to take the chance.

  • Bloody-Agent - 2011-12-03 13:53

    Ok so lets put this puzzle together.. former financial consultant who dealt with pension money belonging to a well-known clothing industry trade union.. Can this perhaps be the new JUJU brand?

  • Vuyo - 2011-12-03 16:45

    The liquidation inquiry investigating the misappropriation of R100-million of clothing workers' pension funds, has led to the arrest on Friday of two suspects, union consultant Richard Kawie and Trilinear asset manager director, Sam Buthelezi. Their names are already public? See article http://mg.co.za/article/2011-12-03-liquidation-inquiry-on-trail-of-missing-money in the Mail & Guardian.

  • Koos - 2011-12-13 21:04

    savages

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