• Courage to do right

    A number of factors will impede Zuma’s opportunity to have a ‘Lula moment’, says Prof Dirk Kotze.

  • #Budget2016

    Possible steps that can be taken in the National Budget to avert a junk status.

  • No ordinary SONA

    A weak president presiding over a racially polarised nation faces a serious task.

All data is delayed
See More

Seizures cripple fraud syndicate

Apr 08 2011 17:00
Johannesburg - A Pakistani and South African-run syndicate that defrauded the SA Revenue Service (Sars) of about R77m has been "crippled" after the Asset Forfeiture Unit (AFU) seized more than R20m of its assets.

"Sars was defrauded of approximately R77m in tax refunds by a syndicate comprising Pakistani nationals and South African citizens," the National Prosecuting Authority said.

"The AFU obtained 14 orders in the South Gauteng High Court in terms of the provisions of the Prevention of Organised Crime Act, authorising the seizure of property relating to fraud committed against the SA Revenue Service between September 2008 and March 2009."

The NPA said investigations had led to the arrest and prosecution of a number of individuals on charges of fraud, money laundering and corruption.

Three of the nine accused have pleaded guilty and have been sentenced.

The alleged kingpins of the syndicate - identified as Aliraza Syed Naqvi, a Pakistani national, and Jabulani Freddy Sewela, a South African citizen - will appear in the Randburg Magistrate's Court on June 1 with the remaining accused.

The NPA said the stolen funds were laundered through a multitude of bank accounts operated and controlled by the syndicate.

The syndicate's "intricate money laundering web" was unravelled by Sars and the AFU.

The assets included houses in affluent suburbs, household contents and numerous luxury and other vehicles.

A house in Sandton deviously concealed in a trust by a deceased syndicate member was also seized.

About R500 000 paid from the proceeds of the crime into an attorney's trust account was surrendered to the police by an attorney for the accused.

"This money and all monies held in credit in the numerous bank accounts are all subject to seizure," the NPA said.

Investigations to identify further assets continue.
sars  |  fraud  |  corruption


Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Will Jacob Zuma's State of the Nation speech help SA avoid "junk" downgrade?

Previous results · Suggest a vote