A “cunning“ senior accountant, who had free rein on his employer’s and some clients bank accounts but breached the trust placed in him by committing multiple acts of fraud and theft, was sentenced to 15 years of imprisonment this week.
Zakariya Cassim Vahed, 49, previously pleaded guilty before magistrate Sophie Reddy in the Durban Regional Court to 93 counts of theft and fraud while in the employ of Overport-based accounting firm, Desai Jadwat Incorporated (DJI).
The State was represented by prosecutor Surekha Marimuthu and investigations were led by Colonel Dean Misra from the Hawks’ Commercial Crimes Investigative Unit.
Before Reddy pronounced sentencing, Vahed had his attorney released and attempted to engage a new one, but was refused. He represented himself, as he had requested.
His acts of criminality occurred between August 2009 and 2019.
He joined the company in January 1992, and while he had no formal accounting qualifications, he ascended in rank through the experience he gained during his years with DJI.
Vahed plundered more than R7 million and used some of his ill-gotten gains on 37 overseas visits, which included six occasions when he travelled for religious purposes.
Apart from embezzling funds from the company on 83 occasions, he misled DJI into believing their clients paid for the services rendered on seven occasions. Instead, he set up loan deals on behalf of DJI, from the said clients, for the respective amounts they owed, which he took (R180 000) for himself.
Between December 2013 and January 2018, he fleeced more than R4.3m from a prominent Durban school’s bank account. DJI handled the school’s accounting affairs and the company’s managing director and founder, Cassim Ahmed Jadwat, was the chairman of their board of trustees, a position he relinquished after the fraud was discovered.
Vahed stole more than R790 000 from a trust account in his late father-in-law’s name, which DJI managed, and he also used the services of a car hire company, which DJI paid for.
On counts 1 to 83 (theft), Reddy sentenced him to 15 years imprisonment. For fraudulently pocketing services fees received from seven clients (counts 84 to 90), which were due to DJI, he received a 10 year sentence.
For plundering the school’s bank account (count 91), the prison term handed was 15 years. He received eight years jail time for stealing funds from his father-in-law’s trust account (count 92) and three years for the car hire fraud (count 93).
Vahed received an effective 15 years of incarceration, as Reddy ordered that the sentences for counts one to 90, 92 and 93 all run concurrently with the sentence she handed on count 91.
Reddy said she considered various factors and case precedents before deciding sentencing.
In mitigation, Vahed also raised his various health issues and the possibility he will require a kidney transplant and specialised treatment.
Reddy reflected on the testimony of Dr Bilal Bobat, a gastroenterologist who Vahed consulted in 2019.
Bobat said Vahed’s health could improve with better diet and exercise and that he won’t need a liver transplant for at least five years.
Reddy told Vahed he relied substantially on his health in mitigation of sentence.
“There has been an exaggeration of the seriousness of your condition, you have not consulted with the doctor for almost three years by the end of 2022.
“Your health issues are no bar. The court considered the theft and fraud committed and the astronomical sums of money involved,” she said.
The magistrate was cognisant of Jadwat’s testimony on the impact of Vahed’s crimes on the business and its credibility. She acknowledged that the company could no longer run its programme to empower emerging black chartered accountants.
“You were elevated into a position of high level of trust over several years, with free access to large sums of money, without any other persons having oversight over your transactions. This made you more brazen in your acts of theft because you had been given carte blanche.
“The manner in which these crimes were orchestrated manifests extreme cunning, deceitfulness and a shocking lack of integrity,” said Reddy.
Reddy singled out count 91, which related to the school’s finances.
“The complex and devious machinations implicit herein are astoundingly shameless and brazen.
“You eventually pleaded guilty to these offences in the face of overwhelming evidence, but showed no remorse,” she said.
Reddy said Vahed delayed the finalisation of this matter on baseless grounds.
“Today you sought a further delay to change your legal representation. Yet again, without justification.
“In keeping with your inconsistencies, you claimed you are innocent.
“Most despicable is that you continue to prejudice your former employer by poaching their clients, you continue to be unethical in spite of a verbal restraint of trade agreement with the complainant,” she said.
Reddy said it was a clear indication of Vahed’s lack of remorse and capacity for rehabilitation.
SUNDAY TRIBUNE