Zakaria Cassim Vahed (47) briefly appeared in the Durban Magistrate’s Court on Tuesday, 27 October 2020, following his arrest by the Durban Serious Commercial Crime Investigation team on eight counts of fraud.
Vahed was employed as a manager in one of the companies in Durban. It is alleged that he manipulated financial registers of his employer by creating fictitious entries with an intention to deposit funds into his own personal account.
His employer suffered a prejudice of approximately R7 million between 2009 and 2018. A case of fraud was reported at Sydenham police station and the docket was allocated to Hawks members for comprehensive investigation.
He was granted R10 000-00 bail and the case was postponed 22 January 2021.
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