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Central SA

FS fraudster convicted

───   10:32 Sat, 30 Jan 2021

FS fraudster convicted  | News Article

The Virginia Magistrate’s Court in the Free State has sentenced Martin Magobolo (50) to five years imprisonment - of which five years was suspended - on condition that he pays back SARS an amount of R1.5 million.

According to the Hawks’ spokesperson, Christopher Singo, Magobolo pleaded guilty to 15 charges of contravening the Tax Administration Act in the Local Magistrate’s Court.

Singo further says Magobolo, who was a director of Ferros Trading and Investments, submitted false income tax returns between August 2014 and December 2016.

“After the audit manager at the South African Revenue Service (SARS) uncovered the fraudulent activities, the case was reported to the Hawks’ Serious Commercial Crime Investigation in Welkom during April 2019 for further investigation,” adds SIngo.

Singo says Magobolo was subsequently issued with a court summons in October 2019, and appeared in court on several occasions - which led to his recent conviction.


OFM News/Blaine Jones

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