Westville Police has confirmed to The Citizen that charges have been laid against a father and son who allegedly stole over R160 million from Amaanat Investment Holdings (AIH) in KwaZulu-Natal.
Over the past few weeks, The Citizen has reported how the money was allegedly stolen by the former chief executive officer (CEO) and board member, 68-year-old Hussun Abdool Khalek (HAK) Omar and his 41-year-old son, Mahomed Hussun Omar, who was a company director at the time.
The father and son have since resigned from the company.
A forensics report by Integrated Forensic Accounting Services revealed that a significant portion of the millions of rand were utilised by HAK Omar for his personal benefit and gain.
According to the forensic report, the matter dealt exclusively with the allegations of improper and unauthorised payments classified as share issue expenses, of which a substantial amount was allegedly misappropriated by HAK Omar.
It also revealed expenses totalling R160 million were debited against Stated Capital over a period of approximately 10 years.
A person familiar with the matter confirmed to The Citizen, the shenanigans of Hussun Abdool Khalek Omar and Mohamed Omar’s devious actions are likely to have far-reaching and consequences and implications for non-governmental organisations (NGO), places of worship including mosques, religious organisations and individuals.
“A value of what they invested will be largely depleted as a result of all of the shenanigans there, and that value could be affected and I am talking about now all shareholders value could be affected by anything between 25% and 50% (sic).”
Integrated Forensic Accounting Services also said AIH should consider registering a criminal complaint with the South African Police Services (Saps), seeking further police investigation into the alleged fraud and corruption by HAK Omar.
That case has now been opened at the Westville police Station and confirmed by the branch commander Lieutenant Colonel Roshni Inderh.
“There is a case that has been opened with allegations, but no formal charges have been placed against them. The matter is under investigation at this point in time.”
Inderh said the case docket has been handed over to the Commercial Crimes Unit for further investigation.