Gavin Watson’s family says reports of R500bn offshore are ‘completely absurd’

After a source who spoke anonymously to Times Select reportedly revealed earlier this week that late Bosasa CEO Gavin Watson had “funnelled” as much as half a billion rand into a Guernsey tax haven offshore, his nephew and others have rubbished this.

He was possibly due to be questioned about his “missing millions” by the SA Revenue Service (Sars) in a tax inquiry.

Watson may take many of his company’s tax secrets to the grave now after the controversial businessman died in a car crash just a day before he was due to give evidence at a Sars inquiry.

Watson was certified dead at the scene of his accident near the OR Tambo International Airport in the early hours of Monday morning, with his family reportedly now saying he may have been headed there at such a high speed to attend a prayer meeting with Bosasa staff.

Reports this week suggested he may have been under investigation for tax evasion and money laundering.

However, Watson’s chartered accountant nephew Jared Watson, along with other members of the family, his lawyer and others told the Sunday Times that Watson had stashed not a single cent abroad.

Jared dismissed the notion of the tax haven as “nonsense” and “completely absurd”.

The Sars inquiry, led by advocate Piet Marais, would supposedly have heard Watson’s testimony related to the investigation by Sars after he was heavily implicated in the Commission of Inquiry into State Capture.

It is not clear how his death has affected the inquiry, which is closed to the public.

(Edited by Charles Cilliers)

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