Ace Magashule is currently on trial in the Bloemfontein High Court.
Image: Oupa Mokoena / Independent Newspapers
The Free State High Court has made groundbreaking legal strides regarding the asbestos corruption case involving former Free State Premier Ace Magashule.
Here’s a summary of the key points from the court's recent ruling.
The National Prosecuting Authority (NPA) has successfully acquired a R32 million preservation order against Ace Magashule and various accomplices linked to a major asbestos corruption and money laundering scheme.
As part of the court order, a luxury Mercedes-Benz G63 AMG, reportedly purchased in cash for R2 million, has been seized. This vehicle serves as a representation of the extravagant lifestyle lavishly funded by illicit gains.
The NPA asserted that the seized assets are believed to stem from a sophisticated network of criminal activities, encompassing theft, fraud, corruption, and money laundering, all executed at the severe detriment of the Free State Department of Human Settlements (FSDHS).
According to NPA national spokesperson Mthunzi Mhaga, involved individuals, companies, and trusts allegedly participated in intricate financial arrangements designed to deplete the FSDHS of critical resources. Criminal proceeds were purportedly laundered through attorneys, real estate firms, and luxury car dealers.
The recent preservation order follows a Restraint Order of R300 million issued to the Asset Forfeiture Unit (AFU) by the same court in September 2020, linked to the ongoing asbestos corruption case.
This preservation order aims to freeze the assets and prevent any attempts to dissipate them, thereby facilitating the future forfeiture of these criminal proceeds back to the state.
The NPA has confirmed that numerous individuals and entities face multiple criminal charges, including fraud, theft, money laundering, corruption, and various contraventions of the Public Finance Management Act (PFMA) and the Asbestos Regulations.
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