Accountant ‘blew stolen millions on gambling’
Walmer man admits to stealing more than R50m from two SuperSPARS, largely to feed his addiction
A Gqeberha accountant accused of stealing about R50m from two major Nelson Mandela Bay supermarkets has claimed he blew the money gambling online.
Jonathan Blow made the shocking revelation during his formal bail application in the city’s magistrate’s court yesterday.
Blow, 51, was initially arrested on March 17 and charged with one count of theft, but as the investigation unfolded it emerged that he had allegedly stolen millions more from another store he worked for.
He now faces two counts of theft totalling more than R50m
— a small portion of which he paid back.
Blow readily admitted yesterday to stealing more than R11m from the Despatch SuperSPAR and a further R40m from the Sunridge SuperSPAR while working for the franchise owners as their accountant.
The sole director of PE Accounting Solutions (Pty) Ltd (PEAS), Blow’s firm was appointed as the official accountant for the Despatch SuperSPAR in 2010, where he rendered accounting, payroll and creditor payment services on a monthly basis for an agreed fee.
According to the draft charge sheet, Blow required and was given full access and administrative rights to the store’s trading bank accounts, as well as for the Tops Liquor Store next door.
Between September 11 2020 and March 10 last year, in addition to the fees for which he had invoiced the Despatch SuperSPAR, Blow allegedly made 105 illegal transactions amounting to R11.4m from the store’s trading accounts to his business account.
According to the state, between July 2020 and September last year, Blow also siphoned off more than R40m from the Sunridge SuperSPAR’s coffers.
He had been working for the outlet since 1999.
Defence advocate Hannelie Bakker handed the court a report by clinical psychologist Dr Ian Meyer, which stated that Blow had a gambling problem and had spent large sums of money to feed his addiction.
Blow was also being treated for anxiety, depression, high blood pressure and other medical conditions for which he was on chronic medication, Bakker said.
In his affidavit, read out by Bakker, Blow said he had paid back a portion of the money allegedly stolen, and had signed over his 50% share in the Levyvale SPAR in Kariega to the owners of the two SPARs he is alleged to have defrauded.
State advocate Lise Keech, in opposing bail, submitted an affidavit by investigating officer Lieutenant-Colonel Natalie Connelly, detailing why police believed Blow should remain in custody for the duration of his trial.
According to Connelly,
Blow had been granted a UK ancestral visa four days before his March 17 arrest, and had in February listed his home in Main Road, Walmer, for sale, with an asking price of R2.5m.
An adjacent property owned by Blow and his wife, Joanne, was also put up for sale with an asking price of R990,000.
Keech said this proved Blow was a flight risk and would potentially evade his trial.
However, Bakker denied this, saying her client had been well aware of the charges against him before his arrest and had willingly surrendered his passports to the state.
Keech said it was not clear where the missing money had gone, which raised more questions.
She said to obtain a UK ancestral visa you would have to prove to the British government that you had enough funds available to support yourself and your family.
It emerged further that Blow had interests in four companies
as the sole director of two private companies, and a member of two close corporations.
Meanwhile, he apparently applied to have PEAS liquidated in December.
“It is not yet clear what happened in the bank accounts of the other companies, and we are not certain if money was laundered through their accounts,” Keech told the court.
Since his arrest, Blow has been barred from working as a chartered accountant, which raised suspicion as to how he and his wife, a teacher at Linkside Primary School, could afford to keep their two children in university.
Keech said the state would therefore approach the Reserve Bank to find out if Blow took money outside the country when his family reportedly spent a week’s holiday in Portugal in September.
“We need to determine if Blow stashed cash somewhere.
“We have reason to believe Blow will attempt to evade his trial. He is a definite flight risk.
“From the information we have, he was on the brink of leaving the country,” Keech said.
Questioning Blow’s submission that he had an online gambling addiction, Keech said there was little to no proof that a large portion of the money allegedly stolen was used to feed his alleged addiction.
Bakker responded that with the assistance of Joanne’s family, Blow would be able to pay R50,000 for bail, and that he was willing and able to comply with strict bail conditions.
She denied that he was planning on emigrating to the UK and told the court Blow had co-operated with the police since he became aware of the charges against him.
Keech said it would not be in the interest of justice to release Blow on bail, pointing out that if he should skip the country the extradition process was a long and costly one.
According to Keech, the investigation was still in its early stages and a lot more work needed to be done before the matter could proceed to trial.
Judgment in Blow’s formal bail application is expected to be handed down on April 12.
He remains in custody.