Durban — In November, three accused will be sentenced after they were convicted of fraud and money laundering in the Durban Specialised Commercial Crimes Court last week.
On Wednesday, Duran Thavarayan, 40, Yuvesh Pillay, 41, and Selvan Naicker, 53, were convicted on nine counts of fraud. Additionally, Pillay and Naicker were also convicted on 68 counts of money laundering.
According to Hawks KwaZulu-Natal spokesperson, Warrant Officer Sibu Ncane, it is alleged that during March 2016, Thavarayan was employed as a treasury supervisor at Massmart. One of his duties was to pay all companies doing business with Massmart.
Thavarayan conspired with his friends, Pillay and Naicker, by falsifying invoices presented to Massmart.
It was established that the money was not paid into the accounts of the companies supplying Massmart. Instead, the money was paid into the accounts of the accuseds’ friends. As a result, the company suffered a R2 418 500 loss.
Ncane said a fraud and money laundering case was reported at Point police station and the case docket was allocated to the Hawks members from the Durban Serious Commercial Crime Investigation unit for further exploration.
He said an intensive investigation was conducted leading to the accuseds’ arrest. They were charged with fraud and money laundering.
“The accused appeared in court several times, until Wednesday, August 28, when they were found guilty,” Ncane said.
“All three accused were convicted on nine counts of fraud. Pillay and Naicker were also convicted on 68 counts of money laundering.
“The matter was remanded to November 11 for sentencing.”
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