Financial manager steals millions while employees receive no bonuses for 3 years

The Bellville Commercial Crimes Court has sentenced a financial manager and his lifetime partner after they were extradited to South Africa following the theft of millions of rands from their employer.

National Prosecuting Authority (NPA) regional communications manager Eric Ntabazalila said Marais was sentenced to an effective 12-year imprisonment, while his partner, Brian Wilson, has been sentenced to an effective 6-year imprisonment in the Western Cape.

Both were declared unfit to possess a firearm.

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Marais, 55, was employed as a financial manager at Soma Initiative (Pty) Ltd, between 2008 and 2019.

Wilson, 49, 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,” Ntabazalila explained.

“The State alleged and proved that between 13 April, 2018 and 9 April, 2019, Marais, whilst acting in execution or furtherance of a common purpose with Wilson, stole more than R15.4m 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.

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“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 made his bank accounts available for the illegal deposits.

“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.”

Ntabazalila said the state argued 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 R1.5m out of his pocket.

No increases or bonuses for employees

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

“Following the theft and money laundering, the accused flew to Ireland and relocated to Georgia but were eventually traced, arrested, and extradited to South Africa.”

Marais was sentenced to 18 years of imprisonment for theft, but the court suspended six 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.

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He was sentenced to four years of imprisonment for money laundering and the court ordered this sentence to run concurrently with the 12-years imprisonment sentence of theft.

His partner, Wilson, was sentenced to 12 years imprisonment for theft with six years imprisonment suspended for five years on the 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 of imprisonment for money laundering and the court ordered this sentence to run concurrently with the six years imprisonment sentence for theft.

“The State welcomes the sentence and hopes that it will serve as a deterrent to others who would attempt to commit similar crimes,” Ntabazalila concluded.