State capture accused jailed over R66m fraud
The Pretoria Regional Court has convicted Yakub Ahmed Suleman Bhikhu and his company Homix (Pty) Ltd on 81 counts, including fraud, forgery, uttering, money laundering, and contravention of the Tax Administration Act.
According to the National Prosecuting Authority (NPA), Bhikhu pleaded guilty to all charges.
The NPA’s Investigating Directorate Against Corruption (IDAC) spokesperson, Henry Mamothame, confirmed that Bhikhu was sentenced to 10 years of direct imprisonment, with five years suspended for a period of five years.
"He was further ordered to reimburse R300 000,00 to Transnet, which he received as gratification,” said Mamothame.
“His company was fined R500 000,00 suspended on the condition that no similar offence is committed.”
The offences took place between 2012 and 2015, resulting in a loss of approximately R66 million to Transnet.
Bhikhu, the sole director of Homix, opened accounts at various banks and forex institutions where illicit payments were processed using fraudulent documentation.
These payments were disguised as imports and exports to facilitate the illegal export of currency, defrauding SARS, the South African Reserve Bank (SARB), private institutions, and banks.
Mamothame said Bhikhu was informed of the charges in 2017 but evaded arrest for six years, until he was apprehended at the border while trying to enter Botswana.
He has remained in custody since his arrest.
The NPA’s IDAC welcomed the conviction and sentence, describing it as a result of evidence presented during the State Capture Commission and subsequent investigations.
"This collaborative effort strengthens the fight against complex state capture and corruption cases that IDAC is tasked with,” added Mamothame.