An explosive affidavit has exposed how Tholo Energy cheated the government of millions by under-declaring fuel levies for over 10 years. The allegations are made by Tumisang Thahanyane, the former chief operations officer of Tholo Energy, in an affidavit filed on Tuesday this week. Thahanyane is charged with defrauding M40 million from Tholo Energy, a company owned by businessman Thabiso Moroahae.
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He is also accused of money laundering in that he acquired properties and vehicles using funds he allegedly stole from the company.
The affidavit is in the case in which he is trying to block the police from attaching properties on allegations that they are proceeds of crime.
Thahanyane says the allegations that he defrauded the business are meant to cover up how Moroahae used the money generated from under-declaring fuel levies to enrich himself, fund his opulent lifestyle, pay bribes, build his mansion, sustain extramarital affairs and buy vehicles.
Thahanyane says he discovered that Tholo was under-declaring fuel sales to the authorities when he joined the company as the chief finance officer in 2015.
He says he confronted Moroahae who then told him this was common practice in the fuel industry and he should keep it as classified information.
Thahanyane says Moroahae told him that he would benefit from the savings generated by under-declaring fuel levies. He says he discovered that Tholo was illegally making about M5 million per month or M60 million per year by under-declaring fuel levies.
He says Moroahae told him that the practice started in 2012.
Thahanyane tells the court that Moroahae used the money scammed through cheating on the levies to live lavishly and afford other salacious extramarital activities.
He admits that he too benefited as monies would be funneled to his accounts in exchange for his silence and helping sustain the fraud.
He alleges that Moroahae would also transfer monies into his account to make cash payments to “third parties who are key to the survival of Tholo or those who have assisted it in the acquiring contracts”.
He reveals how he made monthly cash payments between M150 00 and M200 000 to a senior executive of Letšeng Diamonds whose mother stays in Mohalalitoe.
The payments were part of a bribe to the executive for helping Tholo get a contract at Letšeng Diamonds.
There were also other huge payments to a senior SASOL SA executive who was said to have helped Tholo land the contract to transport Letšeng Diamonds’ explosives.
Thahanyane claims Tholo paid the exorbitant legal fees of “the former police commissioner” during the administrations of Thomas Thabane and under Dr Moeketsi Majoro.
He doesn’t name the commissioner by name but says he used to collect the money in cash from Tholo’s offices and at one time he received M300 000 which he used to buy an Audi. Morahanye says Moroahae told him that the former police commissioner helped Tholo get firearm licences and instructed the police to look the other way when Moroahae used force against competitors.
Part of the illegal savings from the under-declared levies, he claims, was used to build Moroahae’s M12 million mansion in Lithabaneng and fund his several extra-marital affairs.
He alleges that to cover up the elaborate fraud, Tholo fudged its numbers and bribed auditors to endorse their financial statements.
Those dubious financial statements were then allegedly used to cheat the tax authority and the Petroleum Fund to evade tax and levy. Banks were also hoodwinked to loan Tholo funds and keep lines of credit open based on the same sham statements.
Thahanyane claims when he started raising concerns about the levies and the management of the company, Moroahae used his connections with the police commissioner to instigate fraud and money laundering charges against him.
He says what worsened the fallout was that they shared a lover.
“I must say other factors such as our extramarital affairs which we exchanged when we enjoyed a healthy working and personal relationship played a part,” Thahanyane says.
“Suffice to mention that at one time we had a common lover and that worsened the situation.”
Staff Reporter
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