Appeal after appeal: Convicted businessman fails to overturn R4.6m theft sentence

The Citizen

15-05-2025

The businessman stole money from a company he partly owned and admitted knowing someone else also defrauded it.
Gianmarco Lorenzi, a businessman who siphoned millions from his own company, has suffered another blow after his latest appeal was rejected.
Lorenzi pleaded guilty and was convicted in November 2022 of 18 counts of theft amounting to R4.6 million, as well as eight counts of forgery.
He was sentenced to nine years in prison a month later.
The rise and fall of Cleardata
Lorenzi founded Cleardata, a Cape Town-based document destruction company, in 2005.
In 2009, Metrofile Holdings – a records and information management company – acquired 55% of Cleardata's shares, while Lorenzi retained 45% through a trust.
By 2012, Metrofile had increased its stake to 70%, with Lorenzi holding the remaining 30%.
ALSO READ: Millions unaccounted for as ex-mine bosses face court over fraud
In September 2017, he resigned as managing director after learning that his fraudulent activities had been uncovered.
A settlement agreement was reached between Lorenzi and Metrofile concerning the stolen funds.
As part of the arrangement, Metrofile fully acquired Cleardata for a nominal amount of R144.
Case against Gianmarco Lorenzi
Lorenzi was arrested in November 2017 and subsequently charged in late 2020.
It emerged during his trial at the Bellville Specialised Commercial Crimes Court that he had stolen R4.6 million between 2014 and 2016.
He transferred company funds from Cleardata into his personal account and to service providers who rendered no services to the company.
READ MORE: R600K disappears from stokvel's bank account
He cited financial strain from running out of money during the construction of a house in 2013 and claimed the remaining funds were used to settle a prolonged divorce.
The forgery charges stemmed from Lorenzi's manipulation of invoices and bank statements during the 2017 financial year to cover up the thefts for audit purposes.
He argued that he had repaid the money by relinquishing his remaining shares in Cleardata.
After a plea agreement with the state, Lorenzi was sentenced to a nine-year prison term in December 2022.
Relentless appeals
Lorenzi appealed his sentence in February 2023, arguing the Bellville Specialised Commercial Crimes Court had misdirected itself and that a lighter sentence could have been imposed.
His application for leave to appeal was denied by the magistrate.
He then approached the Western Cape High Court, which dismissed his appeal.
A further petition to the high court was also rejected in July 2023.
READ MORE: Treasury beefs up security after R377k is stolen from bond investor
Lorenzi persisted by petitioning to the Supreme Court of Appeal (SCA) in a bid for special leave to appeal.
The SCA dismissed his application in October 2023.
The following month, he applied to SCA President, Justice Mahube Molemela, requesting that his appeal be sent back to the appellate court for reconsideration.
Molemela granted the referral in March 2024, and the matter was heard a year later in March 2025.
SCA delivers blow to Gianmarco Lorenzi
This week, SCA Judge Shane Kgoele, with two judges concurring, delivered judgment rejecting Lorenzi's argument that the trial court had misinterpreted the settlement agreement.
She said she was of the view that the agreement amounted to yet another criminal offence, as it attempted to shield Lorenzi from criminal prosecution.
Kgoele highlighted that Lorenzi failed to report the crime to police and there was no evidence he intended to do so voluntarily.
'The reality is that it is a settlement resolving a civil suit. It did not extinguish the criminal aspect of the offence.
'The trial court could not overlook these undisputed facts. The argument that he made good the loss suffered by entering into a settlement agreement lacks merit.
'This is so because he did not repay the stolen money in cash, and this fact alone cannot salvage Mr Lorenzi's case,' the 13 May judgment reads.
READ MORE: Ex-Justice Department employee sentenced for stealing R45k in bail funds
The court further criticised Lorenzi for his lack of remorse.
'Mr Lorenzi committed the offences over, not just one, but several years, providing him ample opportunity to end the unlawful and dishonest conduct he knew was criminal.'
'He continued unabated until he was caught. The offences were also carefully planned.'
Kgoele also pointed out that Lorenzi admitted knowing someone else had defrauded Cleardata.
'Nevertheless, he was not willing to identify the person, let alone report it. This behaviour does not reflect someone who shows contrition for his actions.'
Lorenzi's application for reconsideration was dismissed.
Gianmarco Lorenzi's bail appeal
In a separate case, Lorenzi once again applied for bail, this time approaching the Western Cape High Court.
The court dismissed the appeal application in its August 2024 judgment, citing his dual South African-Italian citizenship and financial means as risk factors for fleeing.
The ruling also noted he had received a two-year sentence reduction through special remission.
NOW READ: Crypto fraudster sentenced to 10 years in jail — R4.5m in assets seized