Krugerrand Vat fraud

[GROOVIE COINS 21]

Good day.

Anybody else following the story of the multi billion rand gold fraud that has been taking place between 2012 and 2020? 

A major syndicate has been uncovered by SARS procuring Krugerrands (vat exempt) melting them down, falsifying scrap gold invoices, exporting the gold (vat exempt) then claiming vat rebates back from SARS to the tune of R24-billion! 

I'm utterly gobsmacked at how this operation could be going on for so long and at the sheer volume. In 2019 alone 83 tons of so-called melted scrap gold was exported by this single syndicate, 70% of South Africa's total annual gold production.

The question arises on how SARS could be parting with billions for so long and how the Rand Refinery could not suspect fault with the volumes of Krugerrands moving to single unlisted business entity.

Robert

[GROOVIE COINS 21]

Link to article below:

https://www.news24.com/amp/fin24/companies/gold-scam-robs-sa-of-billions-says-sars-20220203

[Cold Sea 9]

Unbelievable. And Bheki Khumalo is on the board of Rappa