Bethlehem tycoon found guilty of R1.4m tax fraud

Nkosana Nhlanhla Sibeko, 42, was convicted on multiple charges of tax fraud in the Bethlehem Commercial Crime Court, after he contravened tax administration act with his company Cybo Trading CC.

Sibeko was found guilty last week Friday, and sentenced to eight years in prison, wholly suspended for five years on a condition that, he repay SARS the amount of R925 000 on a yearly instalment of R185 000 until the whole amount is fully paid.

According to Free State Hawks spokesperson captain Christopher Singo, a preliminary probe by the South African Revenue Services (SARS) uncovered Sibeko and his company’s fraudulent activities that cost the Sars in excess of more than R1.4 million between the period of 2012 and 2015.

“The matter was reported to the Hawks’ Serious Commercial Crime Investigation team based in Bethlehem. Sibeko was served with summons on 08 October 2020. He appeared in court on several occasion culminating in his recent conviction,” Singo said.

His company was sentenced to a fine of R2 million wholly suspended for five (5) years on condition that it must repay SARS the amount of R490 000 on a monthly instalment of R8000 until the whole amount is fully paid.