Fraud convict to forfeit R23m to state

The Chinese national who tried to bribe a Reserve Bank official with R5.2-million to move over R27-million out of the country illegally looks set to forfeit her remaining R23-million 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 at a Pretoria restaurant.

She had been planning to move over R27-million out of the country in violation of the Exchange Rate Act using a company whose "owner" knew nothing about its existence, according to the Hawks.
National Director of Public Prosecutions head 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 proceeds of unlawful activities, which according to the act, include serious offences such as murder, rape, extortion, fraud and sexual offences, among others.

Hughes's 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.

Hawks spokesman Lieutenant-Colonel Robert Netshiunda said the investigating officer was not available yesterday.
Last month, former finance minister Pravin Gordhan revealed that Homix - a company linked to the politically connected Gupta family - forfeited about R14.5-million to the Reserve Bank's financial surveillance department after it found Homix had unlawfully transferred foreign currency from SA on numerous occasions.

In 2015/2016, the Financial Intelligence Centre blocked R184.6-million being moved out of the country that was suspected proceeds of crime.

 

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