Cape Town — Durban businessman Thoshan Panday was denied bail during his latest appearance at the Durban Magistrate’s Court on Monday.
He faces 27 charges, including fraud and tax violations linked to false VAT and income tax returns.
Panday spent the night in custody ahead of his court hearing.
The prosecution opposed bail, citing concerns about him potentially fleeing.
In 2022, Panday breached bail conditions by traveling to Europe and the USA using passports he had reported as lost, The Citizen reported.
Henry Mamothame, spokesperson for the National Prosecuting Authority, underscored Panday’s questionable credibility, previous interference with state witnesses, attempts to bribe a law enforcement officer, and his financial ability to evade justice as grounds for denying bail.
Businessman Thoshan Panday was denied bail in a Durban court for his alleged role in a R47 million tax fraud scheme involving the South African Police Service. Panday, already facing charges in a separate corruption case, was deemed a flight risk after evidence revealed pic.twitter.com/Ta161a2KhU
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“Upon his departure from the USA, Panday presented a further passport which upon his return to South Africa, he claimed was also lost,” the report quoted Mamothame as saying.
According to IOL, Mamothame said that the prosecution argued against granting bail to Panday, citing concerns that his lack of credibility made him a flight risk.
“The prosecution also drew attention to evidence that Panday had previously interfered with State witnesses, had tried to bribe an investigating officer and was proven to have the financial means to live a luxurious lifestyle even after his assets were restrained by the Asset Forfeiture Unit,” he said.
The magistrate concurred with these arguments, rejecting Panday’s bail application and scheduling the next court session for September 25.
Additionally, Panday is one of nine individuals implicated in fraud and corruption charges related to the 2010 Soccer World Cup, involving approximately R47 million in illicit payments from the South African Police Services.
Co-accused include Panday’s wife, mother, and former provincial commissioner Lieutenant General Mmamonye Ngobeni, the report said.
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Compiled by Matthew Petersen
