Mon Oct 24 05:37:06 CAT 2016
Plea for a 72-hour break from Fees Must Fall

Open letter to South Africa’s students‚ universities and government‚ represented by Minister in the .

Tycoon gets 16 years for R4,5m swindle

By Alex Matlala | Sep 02, 2009 | COMMENTS [ 0 ]

A prominent businessman was sentenced to 16 years imprisonment by the Polokwane magistrate's court yesterday for fraud and money laundering.

Bolobedu tycoon Renky Daniel Suname of Mashao Air-conditioning Installation, was arrested last year after he was linked to the fraudulent transfer of R4,5million into his bank account.

The money transfer was made from the Capricorn district municipality bank account in Polokwane.

Suname, 28, had allegedly worked in cahoots with his friend and homeboy Phetole Mamorobela to defraud the municipality.

Mamorobela had worked in the finance section of the municipality at the time.

Municipality spokesperson Moffat Senyatsi said yesterday that part of Mamorobela's duties were to transfer money to companies that had done business with the municipality.

Senyatsi said the fraud was discovered in February and Mamorobela was dismissed the same month after a series of disciplinary hearings.

Suname and Mamorobela were later arrested with their accomplice, Malesela Ledwaba, a Polokwane businessman, after the police investigations connected them to the scam.

Limpopo police spokesperson Superintendent Mohale Ramatseba said Suname was sentenced to eight years for fraud and another eight for money laundering.

During mitigation of sentence Suname claimed he had two houses in Polokwane on which he was paying off R12000 and R11500, respectively, a Mercedes-Benz, BMW X5 and a 4x4 bakkie on which he also still owed money.

He said he had been awarded a R100million contract in Eastern Cape and had a R500000 loan with a bank to honour.

Mamorobela and Ledwaba had pleaded not guilty and their sentence was set forFebruary 17 and 18 2010.


Login OR Join up TO COMMENT