Pretoria – Businessman Yakub Ahmed Suleman Bhikhu, who evaded arrest for six years, has been sentenced to 10 years for fraud, forgery, uttering, and cash laundering involving R66 million stolen from Transnet.
However, the Pretoria Regional Court, which convicted Bhikhu and his firm, Homix (Pty) Ltd, on 81 counts that embody fraud, forgery, uttering, cash laundering, and the Contravention of the Tax Administration Act, suspended half the sentence.
The accused pleaded responsible to all expenses levelled in opposition to him and his firm.
As a results of these crimes dedicated by Bhiku and his firm between 2012 and 2015, Transnet misplaced R66 million.
Explaining how the crimes had been dedicated, Investigating Directorate in opposition to Corruption (IDAC) Spokesperson Henry Mamothame mentioned: “The accused opened accounts at varied banks and foreign exchange entities, on behalf of Homix, the place on the time he was the only director”.
Mamothame added: “Payments stemming from Transnet had been then paid into these accounts and dispersed to numerous different individuals and entities by making use of fraudulent paperwork to execute fraudulent imports and exports.
“In the method, the SARS [the South African Revenue Service], SARB [South African Reserve Bank], and varied personal entities and banks had been defrauded to permit the export of foreign money, which was proved to be unlawful.”
Mamothame mentioned the accused Bhiku was knowledgeable of the matter in opposition to him in about 2017.
“He then evaded arrest for six years till he was apprehended on the border while attempting to enter Botswana,” mentioned Mamothame.
“He has been in custody since his arrest and conviction.”
On Friday, 18 July 2025, the courtroom sentenced Bhiku to 10 years in jail, of which 5 years had been suspended for 5 years, successfully compelling him to serve 5 years in jail.
“He was additional ordered to reimburse an quantity of R300 000 to Transnet, which he obtained as gratification,” mentioned Mamothame.
“His firm was sentenced to a high-quality of R500 000, which was suspended given that it doesn’t commit an identical offence.”
Mamothame mentioned the National Prosecuting Authority welcomes the conviction and the direct imprisonment.
He revealed that the proof that led to the conviction was offered within the State Capture Commission and additional investigated by IDAC and its stakeholders within the regulation enforcement fraternity.
“This collaborative effort lays the idea for the efforts put in place to crack the advanced state seize instances and different fraud and corruption instances that IDAC is liable for,” defined Mamothame.
