A Rogue Zimbabwe Business Man Avoids A 15 Year+ Sentence In South Africa

Rautenbach to pay S. African fine to end legal battle print friendly version
author/source:Bloomberg
published:Mon 21-Sep-2009
posted on this site:Tue 22-Sep-2009
Article Type : News
Rautenbach pleaded guilty to 326 charges of fraud
By Antony Sguazzin and Brett Foley Billy Rautenbach, who fled South Africa after his motor company collapsed, will pay a 40 million- rand ($5.3 million) fine to settle a decade-long legal battle, South Africa’s National Prosecuting Authority said. Rautenbach pleaded guilty to 326 charges of fraud as a representative of his company, SA Botswana Hauliers Ltd., in the Specialised Commercial Crimes Court in Pretoria, Mthunzi Mhaga, a spokesman for the NPA, said in an e-mailed response to questions today. “Mr. Rautenbach handed himself to the NPA on Sept. 18 and was arrested through a warrant of arrest on arrival in South Africa,” Mhaga said. “He was sentenced in terms of a plea and sentence agreement.” Rautenbach left South Africa in 1999 as raids on his property were conducted to recover debts related to the collapse of Botswana-based Hyundai Motor Distributors, which he controlled. The South African government has since made attempts to extradite him from Zimbabwe, of which he is a national. “I am pleased that the matter has been settled and that all personal charges against me have been withdrawn,” Rautenbach said in an e-mailed statement. “It has always been my goal to return to South Africa to pursue potential business opportunities once my name had been cleared.” Rautenbach said he believed it was concluded that the offenses alleged related directly to SA Botswana and not to himself, he said in the statement. Rautenbach served for a time as chief executive officer of Gecamines, the Democratic Republic of Congo’s state-owned mining company, after Zimbabwe provided military assistance to the government as it fought a war against rebels. In 2007 Congo detained and ejected Rautenbach while he was traveling on business at a copper venture in the country with Central African Mining Ltd., because of the unresolved fraud charges he faced in South Africa. Camec, as the company is known, has previously said Rautenbach holds shares in the company. Rautenbach partners Central African, which last week agreed to be acquired by Eurasian Natural Resources Corp., in mining projects in Congo, Camec has said. Company spokesman Jeremy Gray declined to comment on the matter when contacted by phone today in London. Rautenbach agreed to pay a 10 million-rand fine immediately, Mhaga said. He has also agreed to pay a fine of 15 million rand to the South African Revenue Service and a further 15 million rand to the Criminal Asset Recovery Account in installments, the NPA’s Mhaga said. As surety, the NPA is holding a farm owned by Rautenbach in Paarl, a wine-producing region near Cape Town, Mhaga added in a later interview. He said he couldn’t provide contact details for Rautenbach. back to top