News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise

Fashion & Homeware News South Africa

Up to R300m taken from pensions: State

Two men accused of fraudulently taking up to R300 million from a clothing provident fund have appeared in the Cape Town Magistrate's Court, it was reported on Friday, 29 June 2012.

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 23 January 2013.

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 R300 million.

"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.

Source: Sapa

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za



Let's do Biz