Multimillion rand SARS fraud accused granted bail

2016-11-25 13:40
Nazmien Warner (Facebook)

Nazmien Warner (Facebook)

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Cape Town – Two men who were arrested on charges of VAT fraud on Thursday were released on bail by the Cape Town Magistrate's Court on Friday.

Nazmien Warner, 53, and his accountant Luis Filipe Fernandes, 48, are accused of defrauding the South African Revenue Service out of more than R110m in VAT repayments, Netwerk24 reported.

Warner was released on bail of R1m and Fernandes on R50 000.

They allegedly claimed VAT back for non-existent companies.

SARS said in a statement on Thursday that the businessman, his accountant and five closed corporations were involved in allegedly claiming back R110 385 975 for VAT.

SARS spokesperson Sandile Memela said the claim was based on fraudulent monthly invoices submitted to them.

The two men were arrested during raids on four premises in Bellville and Melkbosstrand on Thursday. Documentary evidence and electronic equipment were seized.

They allegedly used the money to pay their bonds, buy luxury vehicles and travel abroad.

The case was postponed until March 2, 2017.

Read more on:    sars  |  cape town  |  vat  |  crime

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