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Chinese national jailed in SA set to forfeit millions to the state

A Chinese national who tried to bribe a Reserve Bank official with R5.2-million in order to transfer about R27-million out of the country illegally looks set to forfeit all of the cash to the state.

Tian Tian Wang‚ who is in her late 20s‚ was arrested by the Hawks in November 2015 after she deposited R4-million into the Reserve Bank official’s bank account and arranged to pay the remaining R1.2-million in cash to him at a restaurant in Tshwane.

She had been planning to transfer about R27-million out of the country in violation of the Exchange Rate Act via a dubious company‚ according to the Hawks.

National Director of Public Prosecutions‚ Shaun Abrahams‚ was granted a preservation order by North Gauteng High Court Judge Wendy Hughes on March 24.

Abrahams told the court that the funds were the proceeds of unlawful activities including serious offences such as murder‚ rape‚ extortion‚ fraud and sexual offences‚ among others.

Hughes’ ruling paves the way for the money to be forfeited to the state.

Wang is serving time at the Kroonstad Women’s Prison after being jailed for corruption.

Last month‚ former finance minister Pravin Gordhan revealed that Homix‚ a company linked to the politically-connected Gupta family‚ forfeited about R14.5-million in an account held with Mercantile Bank to the Reserve Banks’ financial surveillance department.

Gordhan said Homix made an application to Mercantile Bank to transfer foreign currency to Morningstar International Trade Limited in Hong Kong to pay for previously imported goods.

The Reserve Banks’ financial surveillance department concluded its investigation in December and found that Homix had unlawfully transferred foreign currency from South Africa on numerous occasions.

Due to the findings of the probe the matter was reported to the police for a possible criminal prosecution.

In 2015/16‚ the Financial Intelligence Centre blocked R184.6-million that was suspected to be proceeds from crime from being moved out of the country.

 

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