By Jeff Koorbanally
Judge Zondo will head the State Capture Commission
Dear Honourable President
Your announcement that a commission of inquiry into state capture will be instigated is most welcome. I’ts about time we got to the bottom of all the corruption and state capture.
This investigation needs to be the mother of all State Capture and should not be exclusive.
The argument that the extension of the commission’s investigation to other incidents of state capture will prolong the the process is unfounded.
On the contrary what’s going to prolong the inquiry are the allegations by former Public Protector Thuli Madonsela, which will prove to be nothing of substance nor fact. It will be impossible to prove the Gupta’s influence in the appointment/ discharge of cabinet ministers.
Former Deputy Finance Minister Mcebisi Jonas’s credibility as a witness has been highly compromised by the fact that it took him almost six months to speak-out contrary to the obligation in terms of the Prevention and Combating of Corrupt Activities (PCCA) Act, whose main aim was to promote the reporting of the scourge of corruption. It’s an indictment on Jonas that a man who worked for treasury violated this act. In terms of section 34 (1) of the PCCA, “any person who holds a position of authority and who knows of or ought to reasonably have known or suspected that any person has committed the offence of fraud, theft, extortion, forgery or uttering a forged document” should report such knowledge to a police official. Jonas didn’t do this.
The issue of Eskom’s former CEO Brian Molefe and Minister of Corporate Governance and Traditional Affairs Desmond Van Rooyen being in the vicinity of the area of the Gupta residence means nothing, nor are their phone call records unless they were intercepted legally.
The other part of state capture that I’ve presented on many occasions and to many government officials including your office, with the value of R1,2 trillion, will take Hon Judge Zondo a week to conclude.
To be included in the terms of reference of the “State of Capture” Commission of Inquiry.
* Money laundering, fraud, theft and looting by apartheid regime (1985-95) of guardian funds under the custodian of Public Investment Commissioner/Corporation (PIC) and invested in government bonds with Corporation for Public Deposits – both entities being subsidiaries of the South African Reserve Bank (SARB) at the time)
Total value of this looting 1985-95 =$81 billion dollars ( being assets from one of the three “special restricted accounts” code 0000/4444 which were never declared to the Democratic Government.
Reference of this non disclosure is mentioned on page 26 of the CIex report & supported by three SARB private shareholders (Michael Duerr, Nick Lang & Mario Pretorius)
These bonds were given to ABSA, in a secret deal between SARB, Treasury and ABSA in 1996. (Ciex report revealed this on page 25)
1996-2010, these bonds were registered with Bond Exchange South Africa (BESA) thus imposing a huge liability to the democratic government, of which the Democratic Govt paid back approx R870 billion (Capital + Interest).
The Public Investment Corporation is currently sitting with a claim due for repayment, as per the ACT.
Background of pending R1,2 trillion claim now due for repayment by Public Investment Corporation
The money was traced through ABSA International data base held in a (classified), dormant, special and restricted account, with specific identifier code 0000/4444 and account name: A (M M) Surtie held by Public Investment Commissioners (then subsidiary of Reserve Bank).
This account was held on behalf of my client the late Mr A.R.T. Surtie as then directed by regulation 2 of the Amendment of 1985/6 of the Foreign and Exchange Act of 1933.
By virtue of the above facts this matter constitutes the biggest state capture, sabotage and economic terrorism of a special kind. It therefore deserves to be part of the investigation into state capture.
I look forward to the inclusion of this matter into Hon Judge Zondo’s investigation.
Jeff Koorbanally is a Forensic Financial Auditor