The Mthatha-based Serious Commercial Crime Investigation team of the Hawks jointly with the National Prosecuting Authority (NPA) arrested Khayalethu Sakawuli (60) in Mthatha on August 25 for allegations of theft of family trust funds.
According to Hawks spokesperson, Warrant Officer Ndiphiwe Mhlakuvana, it is alleged that the late father of the accused bought properties in Cofimvaba to establish a business and a family trust fund.
Mhlakuvana said that the allegations are that the late father registered all his children as equal beneficiaries of the family trust.
“On April 30, 2021, it is alleged that the accused who is the eldest brother fraudulently removed his siblings from the trust through the Makhanda Master’s Court.
He deliberately misled the court by claiming that the other beneficiaries wanted to be removed as signatories on the family trust,” said Mhlakuvana.
“The allegations further revealed that the accused registered his own immediate family as trustees to benefit from the funds.”
Mhlakuvana said according to the reports, the siblings have never given the suspect permission to be removed from the family trust.
“It is alleged that during the period between April and June this year the accused stopped paying the other beneficiaries and appreciated the cash collected for his personal use,” said Mhlakuvana.
“Further reports reveal that the accused subsequently collected funds from the rented properties for personal use.”
Mhlakuvana said that the matter was referred to the Hawks for extensive investigation where it came to light that the total amount of money that was misappropriated from the family trust was more than R2.8 million.
Mhlakuvana said that the accused was arrested on August 25.
He appeared before the Mthatha Specialised Commercial Court on the same day and was released on R20 000 bail.
Mhlakuvana said that the matter was then remanded to September 15 for docket contents as well as to set a trial date.
