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A sophisticated scheme of corporate deception has been unveiled at the Palm Ridge Specialised Commercial Court, as three family members stood before the judge, facing extensive charges for their alleged involvement in a fraud and money laundering operation that spanned nearly a decade.
In a story of betrayal and financial manipulation, Marie-Mart Soares, along with her husband, Craig Soares, and her sister, Madeline Van Vuuren, were implicated in a fraudulent plot that led to the illegal siphoning of over R26 million from Netasses (Pty) Ltd, a company that held Marie-Mart in the trusted position of account manager.
Over the period from August 2014 to March 2023, investigators claim that Marie-Mart Soares abused her authority within the company. Her duties, which included overseeing the payroll, purchasing materials, and arranging company meetings, served as a façade for her true agenda. It's alleged that she masterminded fraudulent transactions that channeled vast sums from the company's coffers into the bank accounts of her immediate relatives, including her husband and sister.
The concerning discrepancies were eventually identified by the company, which led to an official case filed at the Bedfordview police station. The gravity and complexity of the situation called for the expertise of the Hawks' Serious Commercial Crime Investigation team from Gauteng, working in tandem with the Pretoria Priority Crime Specialised Investigation unit.
Following their arrests on October 28, 2024, the Soares, and Van Vuuren made their initial appearance in court where the extent of their purported deceit began to unravel. Charged with 1,967 counts of fraud and one of money laundering, the legal process formally commenced. Despite the severity of the accusations, the court saw fit to grant the three accused bail, with Marie-Mart receiving R10,000 and Craig and Madeline each receiving R5,000 bail.
The case now carries substantial public interest and is set to make headlines again when proceedings resume. The financial scandal has left many questioning the integrity of corporate governance and the efficacy of internal audits. The anticipated final decision, expected on January 27, 2025, will undoubtedly be followed closely by corporate South Africa and the country's legal community alike, as it could become a landmark case in commercial crime history.