S.Africa: Cell Phone company Cell C ‘defrauded’ of R357m over eight years

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A fraud scam to the tune of R357.3‑million allegedly from a “syndicate” led by a former Cell C information technology executive has highlighted the telecommunications company’s financial woes after it posted a R5.5-billion annual loss.

Documents from the National Prosecuting Authority (NPA) show how, from January 2012 to January 2020, Mohamed Adamjee allegedly orchestrated 83 transactions to defraud Cell C and worked with Manuel Teixeira, the former sales director of technology company Cornastone.

A company owned by Adamjee, Techno Genius, was used to allegedly funnel what the state asserts were ill-gotten monetary gains from Cell C, with the NPA document showing how his family members also supposedly benefited from the loot.

Bond and loan repayments, a Toyota Hilux, a Yamaha superbike, and cash gifts to relatives were some of the benefits Adamjee apparently bestowed on family and close friends.

Source: https://mg.co.za/business/2021-09-05-cell-c-defrauded-of-r357m-over-eight-years/

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