The owner of a Spar store in Johannesburg has opened a case of fraud against the company's leadership, saying it deliberately inflated the price of the loss-making store he bought five years ago to make its balance sheet look better.
The decision by businessman Amaan Sayed to go to the police, marks a ratcheting up of his quarrel with the Spar Group. It comes after Spar and Sayed failed to find common ground in mediation talks that lasted three months. The JSE-listed grocery chain has strenuously denied Sayed's claims of wrongdoing, saying the sale of the store in 2018 was a legal commercial transaction like any other. Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
JanTamb Fraudulent Misrepresentation
JanTamb They taught us about this practice in university. Legal, but totally immoral
JanTamb When you hire family members and relatives instead of professionals.
JanTamb His accountants should have picked it up in time also.
JanTamb SA
JanTamb He is not the only one... I have seen others and also myself experience this first hand
Brinomash JanTamb I wish i discovered this earlier. This guy already made over $100k discovered on discord group
JanTamb That’s why you have to do what is called Due diligence🤞To ensure nothing is inflated and everything ties to the Tax returns …etc … some people didn’t even file tax return when You buy SARS is after you 🤞 some clients inflate income , when u ask for tax returns they make less
JanTamb Weird that you see this as news worthy ? Who the k cares about the owner of Spar ?
JanTamb