News24

State: Up to R300m taken from pensions

2012-06-29 13:05

Cape Town - Two men accused of fraudulently taking up to R300m from a clothing provident fund have appeared in the Cape Town Magistrate's Court, it was reported on Friday.

The Cape Times reported that the case of Sam Buthelezi and former SA Clothing and Textile Workers' Union (Sactwu) consultant Richard Kawie was postponed until January 23.

Malini Govender, for the State, told the court on Thursday that more time was needed to investigate the Sactwu fraud claims, which had risen in value from R146m to R300m.

"As a result of the increased ambit, the State is not able to proceed with the trial," she said.

The court heard the case was complex because of the nature of the transactions involved and the long period over which they happened.

Buthelezi and Kawie were reportedly out on bail of R500 000 each, with stringent bail conditions attached.

They allegedly defrauded pensioners between March 2009 and February this year in a complex scheme involving payments to various companies and false VAT certificates.

Comments
  • patrick.buckley.712 - 2012-06-29 13:22

    I firmly believe in the death penalty! And not just for murderers.........

      rob.baggaley - 2012-06-29 13:27

      I dont think the state could handle 100 + executions a day.

      patrick.buckley.712 - 2012-06-29 13:46

      Rob.......lets give it a go. Within a month or two the results will astound you!

      rob.baggaley - 2012-06-29 14:20

      I'm with you 100% on that one patrick. If only.

  • Gavin - 2012-06-29 13:38

    in SA criminals have no shame or souls and will quite happily rape/kill a baby and a pension fund. the gutless ANC cowards don't want to re-instate the death penalty as they'd end up on old sparky.

  • Hansen Hudson Huang - 2012-06-29 14:05

    i applaud to the clever person whoever did this!! well done!!! to the stupid union!!! from 2009 till now, that's almost 3yrs! how could you guys only find out now!!! i love africa!!!!

  • scouter.fourone - 2012-06-29 14:14

    What baffles me in these sort of cases is the role of the Auditors. What have they been doing for the three years this theft was taking place - or were they in on it too? I haven't seen too many auditing firms being prosecuted for at the very least, failing to fulfill their responsibilities. Especially where pension funds are involved - the worst type of fraud.

  • david.goliath.355 - 2012-06-29 14:18

    Wow this seems so small in comparison with Zuma stealing 2 billion from tax payers to buy a aeroplane !!!!!!!

  • rahil.khanna.520 - 2012-06-29 14:38

    nothing new, this is expected in this country...shamefull !

  • jwarha.balakisa - 2012-06-29 16:37

    Why give your money to the Union. Union is only there to represent you and you are paying them to do so.

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