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Finances troubled tycoon Saw wealth ebbing away, leaving him a ‘broken man’
} Teboho Setena THE suicide of tycoon Masopha Jonas Lekitlane may have had more to do with his guilt regarding fluctuating finances and tax evasion than family duty. The well-known businessman allegedly shot himself on 31 December – mere hours before the dawn of the new year. Lekitlane’s body and the gun was found in his vehicle. It was parked at the Masiza scrapyard, just a stone’s throw away from the Bongani Regional Hospital in Welkom. The 57-year-old Lekitlane was buried last Wednesday at the Thuhloane Cemetery in Thabong, Welkom. It is alleged that he left a suicide note for his surviving family, stipulating his funeral proceedings and where he wished to be buried. Lekitlane was ranked as one of the richest pioneering businessmen in the Free State, generating millions through business and consortiums with other associates. Yet, according to informed sources, he saw his wealth ebbing away, leaving him a “broken” man. To casual observers, it appeared that the well-known businessman had committed suicide because he was unable to cope with losing the sort of riches most can only dream of. Amidst his financial troubles, Lekitlane, affectionately known as Charlie, found himself on the wrong end of the law, contravening tax. According to a charge sheet which Express Goldfields & Northern Free State is in possession of, he pleaded guilty to failure to submit Income Tax Returns from 2008 to 2012 at or near Welkom and in the district of Welkom. The charges of tax evasion originate from his failure to submit individual Income Tax Returns and that of the Lekitlane Family Trust registered at the South African Revenue Service (Sars) for income purposes. Lekitlane was the trustee and representative of the Lekitlane Family Trust, which owned property in respect of which rental income was received. He pleaded guilty during his appearance in the Welkom District Court in July last year. He faced eight counts of tax evasion, contravention of Section 66 of the Income Tax Act, Act 58 of 1962 read with sections 25 and 234 (d) of the Tax Administration Act No. 28 of 2011, failure to submit the Lekitlane Family Trust and his individual Income Tax
THE late tycoon Masopha Jonas Lekitlane’s framed photo was placed on his coffin in the Freddie Meyer Hall where his funeral was held last Wednesday. Photo: Teboho Setena Returns. With counts 1 to 4, taken together for sentencing, the deceased was fined with R20 000 or 12 months’ imprisonment, wholly suspended for three years. For counts 5 to 8, taken together for sentencing, he was also fined with R20 000 or 12 months’ imprisonment, wholly suspended for three years. Lekitlane was further ordered to submit the outstanding returns for both the trust and individual Income Tax Returns on or before 30 September 2014. According to the charge sheet, Lekitlane was in control of the trust and responsible
for performing the duties of the trust as required by the relevant tax acts. Even after receiving final demands for submission of Income Tax Returns, Lekitlane failed to adhere to it beyond the submission due date of the tax years from 2008 to 2012. The court found that the deceased had committed various offences over a period of time which caused the treasury to suffer economic losses, adding that his conduct adversely affected broader taxpayer compliance. Regarding findings in mitigating factors,
the Lekitlane Family Trust appeared to operate at a loss. During the tax years in question, the deceased was allegedly unable to request audited financial statements from the auditing firm PwC. ) Attempts by Express Goldfields & NFS to get comment from the Lekitlane family proved fruitless as the family refused to speak to the media. Express Goldfields & NFS understands the deceased left strict instructions in his suicide note that no-one must speak to the media.