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FRAUD INVESTIGATION
 
Former Sentula FD Jason Holland on Interpol fugitives list
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6th July 2010
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JOHANNESBURG (miningweekly.com) – The international criminal police organisation Interpol has asked the Internet-using public to assist it in tracking down a number of international fugitives, including former Sentula Mining financial director Jason Holland.

The organisation launched Operation Infra-Red, or International Fugitive Round-up and Arrest – Red Notices, in May to track down 450 fugitives who have been convicted or are suspected of having committed serious offences.

Holland has been named in a list of 26 Infra-Red targets that had been specifically highlighted as part of Interpol’s latest public appeal.

Interpol said that Holland was being sought for alleged fraud, saying that it was alleged that he had siphoned away company money into an offshore account in Germany, during 2008.

A 2008 forensic audit had uncovered fraudulent staff activity at Sentula Mining, which the company said had led to the misappropriation of R242-million.

The company’s shares were temporarily suspended from trading on the JSE until December 2008, while numerous investigations by the Financial Services Board (FSB) were undertaken throughout 2009.

In June last year, Sentula named Holland and a second individual in the misappropriation investigation, saying it planned to lay criminal charges against the former financial director.

Interpol believed that Holland, who has British and South African citizenship, was currently in Australia, the UK or the Netherlands.

Meanwhile, while the FSB had dropped its investigations against Sentula Mining and its former chairperson Sam Jonah, as well as his company Jonah Capital, the insider trading investigations against two other Sentula employees had continued.

The FSB confirmed on Tuesday that two individuals had been under investigation for insider trading, in a case that was related to the investigation against Holland.

One of the employees, Johan Pieterse, who had reportedly been the MD of Scharrig drilling and blasting, had not disputed the claims and was given a R1-million penalty.

The investigation against the second employee had been postponed, with no definite date for a continuation set yet.

Sentula could not immediately be reached to confirm who the second, and still unnamed, individual in the company’s misappropriation investigation had been and whether this was a different person than the two employees being investigated by the FSB.

Edited by: Mariaan Webb

 

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Jason Holland
 

Jason Holland