Yachts, asset-stripping and SARS - court slams controversial businessman | Business

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A court has slammed controversial businessman Paul de Robillard for selling off millions of rands worth of assets - including two yachts - while his company was in a tax dispute with SA Revenue Service. | JanTamb

SA's highest appellate court has found that controversial businessman Paul de Robillard systematically stripped a property company of its assets while it was involved in a dispute with the SA Revenue Service over a tax debt. of tobacco baron Yusuf Kajee, had promised the tax agency in December 2019 that he would not sell three properties registered to PFC Properties while the tax dispute was ongoing. PFC is a property group whose sole shareholder is the De Robillard Family Trust.

But, according to a new ruling by the Supreme Court of Appeal , De Robillard and PFC Properties proceeded to sell all three properties without telling the tax agency. 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.

 

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