The Gqeberha High Court has granted a preservation order for shares bought by the former accountant and sole director of PE Accounting Solutions, 52-year-old Jonathan Blow.
He was arrested in March this year on charges of theft and fraud of more than R40 million from Sunridge Superspar and a franchise in Despatch.
Blow was convicted in the Specialised Commercial Crimes Court in Gqeberha on 6 September.
The matter was remanded to 23 November for pre-sentencing and psychology reports.
Hawks spokesperson in the Eastern Cape, Captain Yolisa Mgolodela says Blow also received notification of having been struck off the roll of the South African Institute for Chartered Accountants.
She says the Asset Forfeiture Unit secured the granting of the preservation order of his more than R1.8 million shares from his business with his business partner.
Mgolodela says his partner bought him out and the money is under preservation awaiting the granting of the forfeiture order and transfer to the Criminal Asset Recovery Account for state use.
According to Blow, he started stealing the monies from the two franchises after he was hired to do their accounting services.
As part of his mandate, Blow was given full access and administrative rights to their trading bank accounts.
Between September 2020 and March last year, Blow transferred more than R11 million from the Despatch Superspar into his business bank account.
In his plea, he says he made 24 repayments, to the tune of more than R4 million, which means the actual loss suffered was over R6 million.
Blow similarly stole and returned some of the money to the Sunridge Spar.
He says he paid back R16 million of the R40 million he stole and added that he knew what he did was wrong and unlawful.
