The South African Revenue Service (SARS) and the National Prosecuting Authority (NPA) have welcomed the 12-year prison sentence for tax fraud imposed on Georgina Chinwe Obiageri Nwanyanwu.
Nwanyanwu was found guilty of tax fraud for fraudulently claiming VAT returns from SARS.
“As the sole director of Georgina General Trading, Nwanyanwu submitted VAT201 returns for the periods 2008 to 2010, improperly claiming VAT refunds amounting to R875 115,” the NPA and SARS said in a statement on Tuesday.
“Once she received the VAT refunds in her business account, she immediately transferred 91% of the refund into another bank account registered under Michel Akakpo, who was also an active participant in this syndicate. Akakpo also submitted illegal VAT refunds of R321 192.05 amounting to a potential prejudice to SARS. A warrant of arrest has been issued for the arrest of Michel Akakpo for fraud,” the departments said.
Nwanyanwu’s sentence of 12 years imprisonment was wholly suspended for a period of five years, on condition that the she is not convicted on a charge of fraud or theft committed during the period of suspension.
On the second charge of money laundering, she was sentenced to 15 years direct imprisonment without the option of a fine, wholly suspended for five years, on condition that the she is not found guilty of committing the offence of money laundering.
The leadership of SARS and the NPA expressed their appreciation to both teams for their cooperation and success on this case. They issued a stern warning to criminal syndicates that are targeting government institutions, adding that law enforcement officials would “spare no effort in ensuring that those involved in criminal malfeasance are prosecuted to the full might of the law”.
The NPA and SARS also expressed appreciation to the SAPS team for its thorough investigation, that led to the successful prosecution of the case.
from The South African https://ift.tt/3hwNUwS
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