STATE CAPTURE ACCUSED PLEADS GUILTY ON CHARGES OF CURRUPTION AND MONEY LAUNDERING WORTH MILLIONS OF RANDS

18 JULY 2025

STATE CAPTURE ACCUSED PLEADS GUILTY ON CHARGES OF CURRUPTION AND MONEY LAUNDERING WORTH MILLIONS OF RANDS

The Pretoria Regional Court convicted Yakub Ahmed Suleman Bhikhu and his company, Homix (Pty) Ltd on 81 counts that includes fraud, forgery, uttering, money laundering and the Contravention of the Tax Administration Act.

The accused pleaded guilty to all charges leveled against him and his company, and he was sentenced to 10 years direct imprisonment of which five years was suspended for a period of five years, effectively compelling him to serve five years in prison. He was further ordered to re-imburse an amount of R300 000 to Transnet, which he received as gratification. His company was sentenced to a fine of R500 000 which was suspended on condition that it does not commit a similar offence.

This conviction is as a result of the commissioning of the 81 offences by Bhiku and his company during the period 2012 and 2015, valued at approximately R66 million which was a loss to Transnet. The Accused opened accounts at various banks and forex entities, on behalf of Homix, where at the time he was the sole director. Payments stemming from Transnet were then paid into these accounts and dispersed to various other persons and entities by making use of fraudulent paperwork to execute fraudulent imports and exports. In the process the SARS, SARB and various private entities and banks were defrauded to allow the export of currency, which were proved to be illegal.

The Accused was informed of the matter against him in about 2017. He then evaded arrest for 6 years until he was apprehended on the border whilst trying to enter Botswana. He has been in custody since his arrest and conviction.

The NPA’s IDAC welcomes the conviction and the direct imprisonment, coming from evidence that was presented in the State Capture Commission and further investigated by IDAC and its stakeholders in the law enforcement fraternity. This collaborative effort lays the basis for the efforts put in place to crack the complex state capture cases and other fraud and corruption cases that IDAC is responsible for.

Enquiries:

Henry Mamothame

IDAC – Spokesperson

082 317 5731