Durban — A man accused of fraud, corruption and money laundering charges was sentenced to eight years in prison.
Last Friday, the Durban Specialised Commercial Crimes Court sentenced Krish Moodley, 53, on 80 counts of fraud, corruption and money laundering.
KwaZulu-Natal Hawks spokesperson Warrant Officer Sibu Ncane said that between January 2015 and September 2017, Moodley was a director of Blarox Trading Pty Ltd, which supplied products at Consulens Health Care Solutions Pty Ltd. The company established that its procurement employees manipulated stock levels on the company system to create requirements for certain products to purchase more stock. They colluded with suppliers, creating false invoices and delivery notes.
No stock was delivered or received due to false invoices and delivery notes.
The company also discovered that there were employees within the logistics department who received money from suppliers. As a result, Consulens Health Care Solutions Pty Ltd suffered a R24 million loss.
Ncane said a fraud and corruption case was opened at Cato Manor police station before the case docket was allocated to the Hawks officers from Durban Serious Corruption Crime Investigation for further investigation.
He said an intensive investigation by Hawks officers resulted in the arrest of the accused and his company and they were charged with fraud, corruption and money laundering.
“The accused appeared in court several times, until Friday, August 23, where he was sentenced with his company,” Ncane said.
Breaking down the sentence handed down, Ncane said Moodley “was sentenced to eight years’ imprisonment suspended for five years on the condition that he is not convicted of fraud or theft or any attempt thereof, during the period of suspension”.
“The accused compensation is to Consulens Pty Ltd an amount of R1 502 799.38.”
Ncane said accused two (the company), “was sentenced to pay a fine of R500 000, which is suspended for three years on condition that the accused is not convicted of fraud or theft during the period of suspension.”
Ncane further said that the account should be settled as follows:
“R843 000 to be paid no later than August 30. The balance of R659 799.38 is to be paid in 23 monthly instalments of R28 000, to be paid on or before the last working day of each month. The balance of R15 799.38 should be paid within 30 days as instalment 24.”
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