News Formal

State capture: Joburg cash-in-transit company used to launder money

  • 📰 TimesLIVE
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 59%

Sverige Nyheter Nyheter

Asset Movement Financial Services (AMFS) branded itself as a cash-in-transit company but was instead used to launder money, the state capture commission heard on Monday.

The commission believes that R97m of that total amount was siphoned off to various entities through a"detailed scheme of money laundering", which involved among others a company called Koroneka Trading and Investments, which was irregularly appointed to manage ground-handling services at both airports.

The business, before it was liquidated in March 2018, was moving about R500m a month for its various clients, said Viljoen. Describing a typical day at work, Viljoen said she would receive about 100 calls from clients who would request various amounts of cash. Viljoen would then wait for the client to deposit the money into AMFS's account. She would then place an order for cash with another company, SBV. Her drivers would go to SBV to pick up the cash before dropping it off with the client.But her clients were not properly vetted.

She said deliveries were made to the Bedfordview address but the Springs address was used on the invoices she issued to Markides. She said she had only ever visited the Bedfordview address and had been requested by Markides to invoice using the Springs address.In May 2015, Markides allegedly requested R9m cash, with the reference"Koroneka". Viljoen testified that she was under the impression that the money came from ITH.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

This StateCaptureInquiry is Starting To Annoy Me, Actually When Are Police Going To Start To Make Arrests, This Shit Has Been Going On For a Long Time Now And No One Has Been Arrested or Charged, This Shit is a Big Waste 😏😏😏

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 28. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

State capture: Joburg cash-in-transit company used to launder moneyAsset Movement Financial Services (AMFS) branded itself as a cash-in-transit company but was instead used to launder money, the state capture commission heard on Monday. This is ANC for you,corrupt to the core. Yoh it's getting 🔥🧦🤢
Källa: SowetanLIVE - 🏆 13. / 63 Läs mer »

Joburg cash-in-transit company laundered money, state capture inquiry hearsGovernment and SA Express cash allegedly transferred into accounts linked to airline’s former commercial GM
Källa: BDliveSA - 🏆 12. / 63 Läs mer »

City of Joburg promises to minimise impact of water interruptions - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The City of Johannesburg has assured residents that it has put contingency plans in place to minimise the impact of the water supply interruptions which will start on Monday.
Källa: SABC News Online - 🏆 32. / 51 Läs mer »