The Gqeberha High Court on Monday granted the preservation order for shares bought by the disgraced former chartered accountant, Jonathan Blow.
Blow, 52, who was struck off the roll struck off the roll by the South African Institute for Chartered Accountants (SAICA), is the former accountant and sole director of PE Accounting Solutions (PEAS).
In March, Blow was arrested by the Hawks for charges of theft and fraud, after his former clients realised that he had been dipping his hands in the accounts of their businesses, stealing R51-million from his former clients, Sunridge Super Spar and Despatch Super Spar in Gqeberha between July 2020 and September 2022.
The Hawks spokesperson in the Eastern Cape, Captain Yoliswa Mgolodela, said Blow was appointed as the accounting officer for two Spar supermarkets and that he was given full access and administration rights to the two entities trading bank accounts used in the operation of the businesses in order to effectively render the aforesaid services.
“In addition to the fees for which he had invoiced the businesses, he intentionally and unlawfully transferred cash to the value of more than R40-million from Sunridge Super Spar and more than R11-million from Despatch Super Spar to his bank account as confirmed by the investigations of Serious Commercial Crime Investigation of the Hawks in Gqeberha. Blow was arrested on 24 March 2023 and was remanded in custody ever since his arrest.
Blow convicted by commercial crimes court
“Blow was convicted by the Specialised Commercial Crimes Court in Gqeberha on 6 September 2023. The matter was remanded to 23 November 2023 for pre- sentencing and psychology reports. Blow also received notification of having been struck off the roll of SAICA,” said Mgolodela.
She said that the matter was referred to the Hawks for investigations, in conjunction with the Asset forfeiture Unit (AFU) where both organisations secured the granting of the preservation order of his more than R1.8-million shares from his business with his business partner.
It is understood that his business partner bought him out and the money is under preservation awaiting granting of forfeiture order and transfer to Criminal Asset Recovery Account (CARA) for state use.
