All The Crooks mentioned in the Ciex Report must be investigated

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One of the key remedial actions in Public Protector Advocate Busisiwe Mkwhebane’s final report into CIEX:

  • Reopen and amend Proclamation R47 of 1998 published in the Government Gazette dated May 1998 in order in order to investigate alleged misappropriated public funds given to various institutions mentioned in the CIEX Ltd.  is that the all the companies mentioned in the Ciex
 Here’s a list of the companies and the amounts which CIEX Ltd said could be recovered:
  • R3.2 billion from Absa
  • R3 – R6billion from Sanlam and Rembrandt 
  • In 1992 Absa bought the lifeboat-enhanced Bankorp from Sanlam for Absa shares for a price of R1.1 billion. In his statement in November 1999, Judge Heath states: “The value of the “Lifeboat” was taken into account in determining the purchase price of the shares in Bankorp.  The entire price paid by Sanlam of R1.1 billion for Bankorp equated to the value of the lifeboat. It was the taxpayer – not Sanlam – who was the effective owner of Bankorp”. The value of the Sanlam’s holding in ABSA has today quadrupled to R3.8bn, CIEX wrote then (1998 or so). The entire enhancement could be claimed by government on behalf of taxpayers.
  • Upto R5.5billion from Aerospatiale/ Daimler Chrysler
  • Armscor payments to Luxembourg accounts, managed through the Paris Embassy estimated at R14.4billion
  • Nedbank Lifeboat R100m. SARB secretly gave Nedbank R100m to cover the bank’s losses from unprotected lending to Louis Luyt
  • Trust Bank (part of ABSA today) frauds from 1986 to 1992. From 1986 to 1992 Trust Bank was secretly authorised by the SARB to export $300m per annum to the Cayman Islands to “facilitate strategic purchases”. The funds were not used for that purpose but for a disguised Rand “round-tripping operation
  • Procurement Fraud in the US. Between 1987 and 1993, South African officials and US suppliers collaborated to defraud government by ordering large items of expensive equipment which were paid for but not delivered
  • Bond Issues: The SARB is believed to have issued undisclosed tranches of bond issues to Absa in dollar denominations.
    • The stock numbers are: RSA 150: 12% Maturity date: 28/2/05
    • RSA 153: 13% Maturity Date: 31/8/10
  • Gold audit. Evidence of discrepancies over the years between gold mined, gold held by the SARB, all gold sold by mining companies and gold actually sold through the gold pool in Zurich is available to be examined

8 Comments on "All The Crooks mentioned in the Ciex Report must be investigated"

  1. Puleng Lekgoathi | June 22, 2017 at 7:31 am | Reply

    With all this and we then think they will fold their arms and cooperate, HELL NO. The battle lines have been drawn and its time we roll up our sleeves and fight to TRANSFORMSA and especially rally behind the office of the Public Protector.

    • Pinky Khoabane | June 22, 2017 at 9:33 am | Reply

      Dear Puleng, Im glad that we are beginning to wake up to the war that is ahead of us. Sadly, HELL NO, will people who have had such economic power – and I still blame the ANC in part – give it away without a fight.
      Capitalism is based on greed and it’s unfortunate that there never is a time when capitalists say: let’s share, we’ve had our noses in the trough for far too long.

  2. Jeff Koorbanally | June 22, 2017 at 8:21 am | Reply

    This is what we have been calling for!

    In the name of justice for all every south african, should support this.

    Those that got evidence of the alleged Gupta unduly benefits, must come up with the evidence, so that we can combine these investigation,and deal with this scurge of corruption, which prejudice the poor citizen of this country once and for all.

  3. Jeff Koorbanally | June 22, 2017 at 4:34 pm | Reply

    “Here are the facts on the CIEX Report”
    #Reason why it was hidden till we exposed it in 2010”.
    &
    #Reasons why the recoveries were abandoned

    Bond Issues: 

    The SARB is believed to have issued undisclosed trenches of bond issues to Absa in dollar denominations stock numbers are: RSA 150: 12% Maturity date: 28/2/05
    RSA 153: 13% Maturity Date: 31/8/10

    These bonds were traced back to have been issued in 1985 from funds held on a “STATE” blocked account held at the Reserve Bank on behalf of Treasury, of which the sole “Powers” and Jurisdiction were vested to the Finance Minister. .

    In 1996 these bonds were registered with “BESA“ and put on trade in all international sovereign bonds Markets, mainly US & UK.

    By this Virtue these bonds imposed a R877billion liability to our Democratic Government (1996-2010) This resulted in total prejudice to the majority people of this country.

    #This money could have provided homes for many homeless people in this country.

    #This money could have been used to fund education for our children.

    #This money could have assisted small businesses, thus boosting the economy & created employment for many unemployed people in this country.

    Currently there is pending claim with Finance Ministry since 2009 of R1,2Trillion from the legal beneficiaries of the funds illegally invested in these bonds.

    Its clear that our Government does not have this money to settle this claim, as we are now in “junk status

    The question that Finance Ministry, FSB, SArb, Absa decline to answer is where is the R877 billion that our government paid?

    FSB, SArb, & Absa are continuously saying Finance Ministry is the one to answer the question.

    Pravin Gordhan & Lungisa Fuzile have declined since 2009 to give account for this.

    SCOPA was approached for intervention to call Finance Ministry to account for this, they also failed to do what they are constitutionally bound to do.

    The President was approached he took the only option he had! “Reshuffled” that corrupt ministry, he has been vilified and crucified ever since…….

    Most disturbing is the newly appointed finance minister seems to be scared of exposing these crooks I’ve given him all the evidence to do so from the first day as Finance Minister.

    Thanks to the Public Protector, we now have a last recourse SIU.

    To the all the opposition, their media and the WMC banks if they want to declare war in defense of this corruption, they must bring it on ”

    This time they will see, something never seen before, we are done! We have nothing more to loose.

    • Jeff Koorbanally | June 22, 2017 at 7:00 pm | Reply

      “What crime was committed with these bond”

      *1985 Theft, & fraud was committed

      * 1996 serious act of money laundering was committed, which violated international sovereign bonds rules.

      This violation has penalties of up to 4 times the value of amount laundered, in addition suspension is imposed

      In this scenario the fine would be ($36bn x4 =$144 bn, ZAr R1,8 trillion)

      What constituted the act of money laundering in 1996?

      The bonds were issued from the funds of an account classified “STATE” Special Restricted Account

      By virtue of this definition this is a government account, hence issuing bonds from this account means RSA Government issued bonds on behalf of itself, that further constituted to racketeering › the practice of making money from organized illegal activities.

      Therefore Trevor Manual as the Finance Minister at the time should have stopped this sabotage!

      • Jeff Koorbanally | June 23, 2017 at 8:36 am | Reply

        Further crimes were committed in 2010-2015 from the Same “State” account referred.

        The criminally activities moved from Sovereign bond markets to FOREX Markets.

        Proceeds from the State account specific Identifier code 0000/4444 were used for forex trading by Absa & UBS, this included the forex trading of the bank coalition in manipulating the rand currency as disclosed by the CompCom, this was done either by permission of the Sarb deputy governor Daniel Mminele or absa/ubs committed an act called “Churning”

        This was reported to both Governor (lesetja.kganyaga) his deputy (D.Mminele) and Treasury DG (Lungisa Fuzile)

        I called for a probe into the matter, non was done.

        The action they undertook in 2015 was the most bizarre one, they appointed James Cross to head the inquiry of Rand fixing. The very same James Cross conflicted in the same crime. (James Cross is head of UBS Trading)

        The first thing he did after being appointed he exonerated absa from any form of fines, with the justifications that absa cooperated with the investigations .

        What an insult and mockery of our Government!

        All of the above constituted to further racketeering and economic terrorism done warfare style

        This constituted to an act of “Treason”

        When Treason is committed it is the duty of the President to protect the country and its citizen! Our President has done just that!

        We stand behind our Chief Commander to defend our Democracy ! Those that speak civil war when we talk about return of our stolen land.

        “BRING IT ON ”

        We are ready, able, and capable of defense, trained by the best combat leaders!

      • Haword Magongo | June 25, 2017 at 1:19 pm | Reply

        Hi mr Jeff good luck with the investigation nd dont left them off the hook God bless

  4. ANC ALIENATION OF MKHWEBANE WILL SOON TURN HER INTO ANOTHER THULI MADONSELA

    The recent actions, rhetoric and court challenges by ANC parliamentarians, SARB as well as Dept of Finance against Mkhwebane rulings leaves her without any political safe house and sooner or later she will have to choose sides.

    Thuli Madonsela did not just begin being anti-ANC, she was alienated when she started championing issues of service delivery failures by ANC councillors in municipalities to the point where she had to seek political shelter eslewhere.

    Those we later claimed had influence on which cases Madonsela should pursue found her as a political orphan without the support of the ANC which was supposed to endorse and support her service delivery campaigns.

    Mkhwebane is coming in the same strength fighting for the small man and is being alienated by the same people meant to provide her with political support.

    Most people or rather ANC outcasts who were later used against the ANC were themselves ANC rejects whom the ANC failed to protect.

    Malema himself started championing the Land issue when he was inside the ANC before the ANC booted him out. He formed a party which later on became the biggest force to be reckoned with.

    If the ANC does not wake up to this effect it has on it’s cadres who have good intentions but not get political support, it will be too late before they realize what they have turned Mkhwebane into.

    Those who want regime change are always on the look out for people who fell from favor with the ruling party to use in their campaigns such as how they are using Vytjie Mentor.

    Should Mkhwebane be captured as Thuli was, it will be game over. Given how vulnerable the current ANC is, it will never survive another Anti ANC public protector.

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