Thread by @PaulivW

#Sars caught #SimonRudland + associates managing a transnational plunder network that involves a vast money laundering racket & the corrupting of 5 Sasfin bank officials enlisted to sneak at least R3bn to foreign countries and delete banking transactions. dailymaverick.co.za/article/2022-0…

#SimonRudland
On the back of an ex parte preservation Order, #Sars took charge of bank accounts, premises and all other assets owned by cigarette manufacturer Gold Leaf Tobacco (GLTC) & its directors Rudland & #EbrahimAdamjee dailymaverick.co.za/article/2022-0…

#SimonRudlans
#Sasfin COO Rodger Dunn in March admitted to #Sars that the bank’s own belated investigation “evidences deletion of transactions”. In an astonishing letter Dunn said the bank statements for GLTC had to be reconstructed. dailymaverick.co.za/article/2022-0…

#SimonRudland
#Sars is raising R1bn in undeclared income tax and VAT from #GLTC for tax years 2017 and 2018 and VAT period of September 2016 to July 2017, respectively. Underdeclaration penalties + interest can rack up tax bill to R3bn dailymaverick.co.za/article/2022-0…

In defense, #SimonRudland & #EbrahimAdamjee
argue GLTC’s accounts have been “hijacked” by their money launderer #MohammedKhan from SALT Asset Management, appointed as #GLTC’s intermediary with #Sasfin. dailymaverick.co.za/article/2022-0…

#SimonRudland’s plunder network, as sketched by Sars, had four goals: To make heaps of illicit money, to wash it until it seemed legit, to shield it from the authorities’ scrutiny and to move it out of the country. dailymaverick.co.za/article/2022-0…

#SimonRudland
#GLTC had a massive cash problem from selling illicit cigarettes.
To launder, cash was usually picked up by Cash in Transit comps like #KalandraViljoen’s #AMFS (Viljoen testified at #ZondoComission about laundering for others). One incident was at Execujet, Lanseria

#SimonRudland
To launder,Cash was 1. Deposited into #AMFS’ account, or driven to gold comps like #GoldKid & from there EFT’ed into AMFS’s account.
Result: Money introduced into formal banking system without pointing to #GLTC. First layer of laundering done dailymaverick.co.za/article/2022-0…

#SimonRudland
After laundering, money was EFT’ed from #AMFS through various channels to #GLTC’s bank accounts at Sasfin.
These payments would later in a stunning move be deleted from bank accounts by corrupt #Sasfin officials.

#SimonRudland
With help from corrupt #Sasfin officials, #GLTC could sneak illicit money to foreign companies like Aulion in Dubai or Velmont Valley in Switz. - without notifying @SAReserveBank or paying tax. And then delete.

Btwn 2016-17, GLTC/Sasfin dissipated R3bn in this way