Thoshan Panday expected to apply for bail after his arrest on R7million tax fraud allegations

Durban businessman Thoshan Panday is expected to appear in the Durban Magistrate’s Court on Monday morning to apply for bail.

Panday was arrested on September 5, 2024, following allegations he defrauded the South African Revenue Services (SARS) of R7.3million.

The 51-year-old businessman made an appearance in the Durban Magistrate’s Court on Thursday.

According to the Investigating Directorate Against Corruption (IDAC) Panday is facing 27 counts of fraud, pertaining to VAT and income tax that saw the South African Revenue Services allegedly prejudiced of millions of rands.

IDAC spokesperson Henry Mamothame said the State would be opposing today’s bail application.

“The State alleges that Panday was effectively in control of several entities which had received payments from the South African Police Services (SAPS) in an amount of approximately R47 million owing to a corrupt relationship with members of the Supply Chain Management Division of the SAPS.

“These payments were allegedly made in respect of services rendered to the SAPS preceding and during the Soccer World Cup in 2010.”

Panday is among nine accused currently appearing in the Durban High Court on fraud and corruption charges pertaining to the 2010 Soccer World Cup.

Panday has been fingered as the sole member of Goldcast Trading CC. which was awarded orders for accommodation for police members deployed within the KZN province during times of unrest in 2009 at inflated prices.

Among the accused are his wife and mother and former provincial commissioner, Lieutenant General Mmamonye Ngobeni

Panday is out on R100,000 bail in that matter.

In April 2023 the Asset Forfeiture Unit (AFU) seized R165million worth of items belonging to Panday and Ngobeni.

These included luxury vehicles and designer hangbags.

-IOL

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