Rajbansi’s son in the dock

2012-12-06 00:00

VIMAL Rajbansi, son of late MF leader Amichand Rajbansi, is accused of stealing R3,1 million in a crooked financing deal.

Rajbansi, his wife Sonia van Eck and businessman Gideon Pretorius appeared in the Durban Commercial Crime Court yesterday on a single count of fraud.

Attorney Devin Moodley said Rajbansi (42) would plead not guilty, and there was no case against him.

Prosecutor Joanna Bromley-Gans argued for bail of at least R50 000 each, but it was set at R25 000 each. They were ordered to hand over their passports.

Pretorius, a director of Ditona Construction, was also released on R25 000 bail.

Pretorius, Van Eck and Rajbansi allegedly concluded a deal in November 2010 with Merchant West KZN, a company that sells and leases office equipment.

Van Eck and Rajbansi allegedly bought equipment valued at R3 129 539 for Ditona through their entity, Brainwave Projects 1346 CC. Merchant West financed the deal for Ditona, repayable by a lease.

Merchant West retained ownership of the equipment. Two months later, Merchant West learnt Ditona was being liquidated and rushed to safeguard the equipment from liquidators.

It was then discovered that the equipment had already been secured by another company, Rentworks, in terms of a similar agreement.

Rentworks is not implicated in the alleged fraud.

The pre-trial conference date has been set for January 14, 2013.

Moodley said: “We have a very plausible explanation for what transpired in the matter.”

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