Latest news with #AssetForfeitureUnit
TimesLIVE
4 days ago
- TimesLIVE
Asset Forfeiture Unit obtains preservation order in illegal mining case
The Asset Forfeiture Unit of the National Prosecuting Authority (NPA) in the North West has secured a preservation order relating to about 39,058 tonnes of gold-bearing material (GBM) valued at an estimated R16m. The material is alleged to be the proceeds of unlawful activities and instrumentalities of offences. The order was granted by the North West High Court on Friday. 'The order follows investigations into illegal mining operations between 2016 and 2020. During this period, certain suspects and entities reportedly transported GBM from a dormant mine to a processing plant in Stilfontein, Klerksdorp, where it was refined, contravening the Precious Metals Act,' NPA spokesperson Sivenathi Gunya said. The suspects allegedly operated without a valid refining licence. The accused had been arrested and are expected to appear in court on July 2. 'The NPA welcomes the court's decision, which marks a significant step in the fight against illegal mining.'
IOL News
5 days ago
- Business
- IOL News
Court denies couple's bid for legal funds in illegal coal mining case
Jacobus and Elza Jordaan, who are facing multiple charges involving alleged illegal coal mining, lost their legal bid to have preserved funds released for living and legal expenses. Image: Supplied A couple said to be part of a Mpumalanga illegal coal mining case and who earlier had multi-millions in assets frozen by the Asset Forfeiture Unit (AFU), launched a failed legal bid for the release of R6.2 million of these funds for their legal costs as well as R149,000 a month for their living expenses. Jabobus and Elsa Jordaan turned to the Mpumalanga High Court, sitting in Mbombela, as they claimed they urgently need this money to survive and to be able to pay for their defence in their criminal trial. The Jordaans, together with thirteen others, were allegedly part of a syndicate charged with multiple serious offences of illegal coal mining and theft of coal from the State. Their assets were earlier preserved in terms of the Prevention of Organised Crime Act. The Jordaans hold dual citizenship in both South Africa and Namibia. They are also directors of various companies, including GNJ Mining. The AFU in Mpumalanga, in collaboration with South Africa's Financial Intelligence Centre, the Namibian Financial Intelligence Centre, and the Namibian Prosecutor-General's office, at the end of last year seized money in eight Namibian bank accounts to the value of about R52.5 million allegedly linked to the Jordaans. According to the authorities, this amount represents the proceeds of massive illegal coal mining in the Carolina area in Mpumalanga. The Jordaans now told the court applicants contend that the effect of these preservation orders is that they currently have no access to any funds or any unrestrained realisable property, whether movable, immovable, or cash. The National Prosecuting Authority, in opposing the application, said the Jordaans are not being frank with the court. It was argued that the applicants have on several occasions failed to or refused to disclose assets and to repatriate R50 million which was transferred to Namibia shortly before the granting of the preservation orders. It was also said that the couple failed to disclose all property interests and submit a sworn and full statement of all their assets and liabilities, which include assets held in trusts. The applicants, however, stated that they never made or received any income without disclosing it to the curator who was appointed to manage their preserved assets. But the curator said this is incorrect, as live game was removed by the couple and income to the value of R524,752,50, generated therefrom, was not disclosed and remains unaccounted for. The applicants, meanwhile, failed to give an explanation regarding this sum of money to the court. The prosecuting authority also pointed out to the court that the couple last year in another application asked that R3 million be released for their legal costs, as well as R293,349 per month for their living expenses. They had subsequently withdrawn that application. It questioned how the applicants' historical and future legal expenses have increased by R1.2 million and their living expenses have been reduced by R144,582 per month.
eNCA
21-05-2025
- Business
- eNCA
Budget 3.0 brings VAT relief, sin tax burns, and an unexpected fuel levy hike
CAPE TOWN - Finance Minister Enoch Godongwana put on a brave face as he presented his third budget proposal for the 2025/26 financial year. His first budget speech was delayed due to unhappiness among GNU partners over the proposed VAT hike. The second resulted in court action. On Wednesday, Godongwana set the tone by clarifying that VAT would remain at 15%. This left the minister with a big shortfall to make up for. He chose to fill it with fuel levy. Next month, petrol goes up by 16 cents a litre and diesel by 15 cents. This is the first fuel levy increase in three years. Godongwana said this alone would not close the fiscal gap over the medium term. The 2026 budget will therefore need to propose new tax measures aimed at raising R20 billion. Alcohol drinkers and smokers must also brace themselves for a hefty sin tax hike. Cigarettes will go up by more than a rand for a pack of 20, while cigars increase by around R8.50 per 23 grams. Spirits rise by almost R6 for a 750ml bottle. The food basket also takes a knock. Godongwana said the zero-rated basket – which was expanded to include edible offal, specific meat cuts and canned vegetables – would also shrink. Godongwana also committed to more transparent public spending. He said government must ensure that every rand collected is spent on its intended purpose. 'We found potential savings of R37.5 billion over time, through improved oversight and operational changes…' he explained. 'Going forward, underperforming programmes will be closed as the 2026 Medium-Term Expenditure Framework budget process undergoes redesign," Godongwana said. The minister also said authorities were making progress in the war against corruption. In the past five years, the Asset Forfeiture Unit (AFU) recovered over R5 billion in criminal assets. The AFU also obtained freezing orders for R14.2 billion worth of assets related to state capture cases. Godongwana did admit that there were long-standing spending pressures, some of which cannot be funded within the current purse. Among them are the Passenger Rail Agency of South Africa stock fleet renewal programme, as well as HIV/Aids programmes that were previously funded by the US government.
