DStv Channel 403 Sunday, 17 November 2024

Another TERS fraudster nailed

Money laundering

JOHANNESBURG - Businessman Treasure Moremi has been sentenced to 10 years in jail for fraud linked to the Covid-19 TERS scheme.

Denmag Trading, which belongs to Moremi, applied for R10-million in relief funds for its employees.

READ: TERS fraud | UIF on mission to get back claim money

The Hawks says the company employs about 29 people but the application was for over 530.

Denmag Trading was fined R600,000.

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