Durban Businessman Thoshan Panday Denied Bail Over Tax Fraud and Flight Risk Concerns
Durban businessman Thoshan Panday was denied bail on Monday after his arrest on tax fraud charges. The 52-year-old faces 27 counts of fraud and violations of tax laws related to false VAT and income tax returns, which allegedly cost the South African Revenue Service (SARS) R7.3 million. The case was adjourned to September 25, 2024, for an indictment to be served.
The Investigating Directorate Against Corruption (IDAC) stated that Panday was denied bail due to being a flight risk. In 2022, Panday misrepresented his travel plans to the High Court, claiming he needed his passport for a trip to Europe. However, he used it to travel to the United States, violating his bail conditions. He also used multiple passports that he had claimed were lost.
Prosecutors argued that Panday's history of interfering with witnesses, attempting to bribe an officer, and his financial means to maintain a lavish lifestyle despite asset restraints further justified the denial of bail. The court agreed, deeming him a flight risk and an untrustworthy individual.
In a separate case, Panday is facing fraud and corruption charges in connection with the 2010 Soccer World Cup. He is accused of being involved in corrupt activities that led to his entities receiving approximately R47 million in payments from the South African Police Services (SAPS). His co-accused include his wife, mother, and former provincial commissioner Lieutenant General Mmamonye Ngobeni.
The Investigating Directorate Against Corruption (IDAC) stated that Panday was denied bail due to being a flight risk. In 2022, Panday misrepresented his travel plans to the High Court, claiming he needed his passport for a trip to Europe. However, he used it to travel to the United States, violating his bail conditions. He also used multiple passports that he had claimed were lost.
Prosecutors argued that Panday's history of interfering with witnesses, attempting to bribe an officer, and his financial means to maintain a lavish lifestyle despite asset restraints further justified the denial of bail. The court agreed, deeming him a flight risk and an untrustworthy individual.
In a separate case, Panday is facing fraud and corruption charges in connection with the 2010 Soccer World Cup. He is accused of being involved in corrupt activities that led to his entities receiving approximately R47 million in payments from the South African Police Services (SAPS). His co-accused include his wife, mother, and former provincial commissioner Lieutenant General Mmamonye Ngobeni.
