Couple sentenced after stealing millions from employer

A financial manager and his lifetime partner were sentenced to 12- and 6-years imprisonment, respectively, after the Belville Commercial Crimes Court found them guilty of theft of more than R15 million from their employer, Soma Initiative (Pty) Ltd, between 2008 and 2019.

The couple, David Erasmus Marais, and Brian Wilson, were extradited to South Africa, after the couple flew to Ireland and relocated to Georgia. National Prosecuting Authority (NPA) spokesperson in the Western Cape, Eric Ntabazalila, said both were declared unfit to possess a firearm.

He said Marais, 55, was employed as a Financial Manager at Soma Initiative (Pty) Ltd, between 2008 and 2019. His cohabiting lifetime partner, Wilson, 49, and co-accused in the matter also worked for the same company and reported to him between 2008 and 2012.

‘’Marais had access to the company’s business bank account and was responsible for the payment of creditors and service providers from the company’s bank account. The State alleged and proved that between 13 April 2018 and 09 April 2019, Marais whilst acting in execution or furtherance of a common purpose with Wilson, stole more than R15,4million from the company’s bank accounts. He deposited the money into his and his partner’s bank accounts while pretending the payments were made to creditors and service providers. More than R9,3 million was deposited into Wilson’s bank accounts while he deposited more than R5,5 million into his bank accounts. The State proved that Wilson availed his bank accounts for his partner to deposit the monies into his bank accounts illegally. The couple spent the money on gambling which concealed or disguised nature, source, location, disposition, or its movement. This constituted the money laundering charge preferred against the accused,’’ said Ntabazalila.

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The court heard that the couple committed the offences out of greed and the theft caused the company’s overheads to exceed a million per month which required the Managing Director to recapitalise the company with millions personally and to settle its outstanding VAT payments of approximately R1,5million out of his pocket.

‘’As a result of this theft, the company’s staff members did not receive their annual salary increase of end-of-year bonus for three years as the company struggled to break even and remain viable,’’ said Ntabazalila.

Marais was sentenced to 18 years imprisonment for theft, but the court suspended 6 years imprisonment for five years on condition that he is not convicted of fraud, theft, or an attempt to commit any of the offences during the period of suspension. He was sentenced to four years imprisonment for money laundering and the court ordered this sentence to run concurrently with the 12 years imprisonment sentence of theft.

Wilson was sentenced to 12 years imprisonment for theft with 6 years imprisonment suspended for five years on conditions that he is not convicted of fraud, theft, or an attempt to commit any of the offences during the period of suspension. He was sentenced to four years imprisonment for money laundering and the court ordered this sentence to run concurrently with the 6 years imprisonment sentence of theft.

 

Done By: Mitchum George