A Gauteng businessman has been jailed for an effective five years in connection with R66 million Transnet fraud.
Yakub Ahmed Suleman Bhikhu and his company, Homix (Pty), appeared in the Pretoria Regional Court on Friday, where the sentence was handed down.
Conviction
Bhikhu and Homix were convicted on 81 counts, which include fraud, forgery, uttering, money laundering, and contravention of the Tax Administration Act.
The National Prosecuting Authority’s (NPA) Investigative Directorate Against Corruption (IDAC) spokesperson, Hent Mamothame, said Bhikhu pleaded guilty to all charges levelled against him and his company.
Gauteng businessman
“He was sentenced to 10 years’ direct imprisonment, of which five years were suspended for five years, effectively compelling him to serve five years in prison. He was further ordered to reimburse an amount of R300 000 to Transnet, which he received as gratification”.
Homix
Mamothema said Bhikhu’s company was sentenced to a fine of R500 000, which was suspended on condition that it does not commit a similar offence.
“This conviction is as a result of the commissioning of the 81 offences by Bhiku and his company during the period 2012 and 2015, valued at approximately R66 million, which was a loss to Transnet”.
State capture
According to the IDAC, Bhikhu opened accounts at various banks and forex entities on behalf of Homix, where he was the sole director at the time.
Payments stemming from Transnet were then deposited into these accounts and distributed to various individuals and entities by using fraudulent paperwork to facilitate illicit imports and exports.
In the process, the South African Revenue Service (SARS), the South African Reserve Bank (SARB), and various private entities and banks were defrauded to allow the export of currency, which was proven to be illegal.
Arrest
Mamothame said Bhikhu was informed of the matter against him in about 2017.
“He then evaded arrest for 6 years until he was apprehended on the border whilst trying to enter Botswana. He has been in custody since his arrest and conviction.”
“The NPA’s IDAC welcomes the conviction and the direct imprisonment, coming from evidence that was presented in the State Capture Commission and further investigated by IDAC and its stakeholders in the law enforcement fraternity,” Mamothame said.
Mamothame added that this collaborative effort lays the basis for the efforts put in place to “crack the complex state capture cases and other fraud and corruption cases that IDAC is responsible for.”
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