Open Letter: Dear Mr President, Include Apartheid’s R1.2 Trillion Looting Involving PIC In The Terms Of Reference Of State Capture Commission

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.

Sincerely yours

Jeff Koorbanally is a Forensic Financial Auditor

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  1. Jeff must follow the strategy of Afriforum and request a certificate from the NPA so he can institute a civil prosecution. He clearly has evidence…. or does he?!?

  2. So true, the media is a powerful tool to keep us captive from the truth, hopefully many untold truths will come out of the closet from this broadened Commission on State Capture. Since the advent of TV, we have been fed with propoganda that White is always Right, no wonder we prefer to embrace the minorities culture, to speak & live like them as if all is normal and that there is no history of being ostricised in the past. Just because some of us have benefited with a “good middle class” job since the dawn of our supposed democracy, we become obvious to our roots.Don’t we want want to leave a legacy of truth for children, so i look forward to this Commission & pray that our expectations will be met and the truth of the megre state capture with chronies are revealed and brought to book.

  3. If Ramaphosa succeeds in his bid, then STATE CAPTURE BY WMC MIGHT NOT HAPPEN AT ALL. He is saying the State Capture by WMC must done later. WHY????. Just think about how much this commission of enquiries are costing the TAXPAYERS? And they (ANC FACTION AND WMC) have already blamed this on the president of the country while they are the ones who are always coming up with these SHENANIGANS.

  4. The prez should be given space to determine ToR as guided by Former PP report. Those wishing that the prez should extend the period of state capture and corruption and not to limit it to the period investigated by Adv Madonsela are mischievous.

    1. Mboweni
      No offense meant,

      its either you are misinformed or purely just speaking out of total ignorance, which derives from mainstream media brainwash.

      *The President has already made up his mind to broaden the commission of inquiry to include others.

      * The Public Protector currently holding office has endorsed the broadening of same.

      * Thuli Madonsela is no longer holding decisions in the Office if the Public Protector.

      Those of us who have evidence of broader corruption & state capture, have the right to approach the President to include it in the T.O.R. & that does not constitute to mischievous behavior.

      It is your suggestion that might be mischievous as it seeks to be selective in dealing with the serious scourge of corruption & state capture.

      Beware of mainstream media my brother, they doing well in brain washing us, don’t allow yourself to be part of that Statistic.

      1. The Trillions you refer to, throws your whole argument out of the window.
        The national budget of SA at handover to Ancheep corruption inc. was under R700 billion. So where do your delusional figures come from?

        The lifeboat loan was repaid before handover, but you ovbiously dont want facts to ruin a good story?
        Do you actually comprehend what a TRILLION is? You cannot even count to that number in a lifetime, because counting 1,000,000,000,000 secs would take you 37 000 years. So everyone flashing trillions around is fooling us with numbers!
        As for your investigations you were told some time ago: Why are you not instigating a private prosecution? Get the nolo prosequi letter from. NDP and do your own prosecution if You think your case is strong enough.

        1. Gus Clark

          I don’t normally respond to idiots that try to make themselves look smart with figures and economics as am a specialist in that field .

          You must also refrain dictating to me what and where to do (like where I should take the matter or not , as I know what options are available to me including but not limited private prosecution) I also know when to take those actions .

          You also seem to be unable to read properly , re-read the article, my claim originated from a $36 billion / R87,84 billion from 1985-date

          The R1,2 trillion is in fact an amicable settlement , I proposed .
          PIC profited trillions from my client inheritance R6,3 trillion to be exact

          The matter of the Surtie is dealt in two folds , Criminal and Civil and both have been executed .

          Case 02/06/2020
          Case 2319/2020

          Both are coming up in Cape High Court soon

          Trust this educate you in things that you claim to know of which you are actually total ignorant to , bu suffer from arrogance attitude.

          If you wish to be an expert witness in any one please come so I can teach a lesson or two

          Kind regards
          Jeff Koorbanally

        2. Gus Clark

          You also make stupid comments about Absa lifeboat, again a subject you know nothing about !

          I investigated this matter and I categorically tell you Absa/Sanlam owes the money as per PP investigations and findings .

          The report was set aside due to flaws in the process and not because they paid the money or not liable for the debt as you claim

          If you want to debate this matter bring it on .

          Two judge ruled that the money was owed , so who are you , to question that ?

  5. It is an indisputable fact that most well known big Companies are eligible to escape Scott free from criminal liability even if the evidence is on black and white but can be easily overlooked by relevant authorities.It categorically and unambiguously demonstrate the power of being economically advantaged versus defenseless disadvantaged people who are at the grass root level who then fall prey and become victims of the circumstance.

  6. Notwithstanding the fact that Hon Judge Zondo should set a precedent by immediately ordering Mcebisi Jonas`s arrest.

    Besides his failure to comply with the obligation of the PCCA act, This man has come up with the most bizarre, fairy tale allegation. “Guptas offered him R600 million in a black bag, & another R600m later.”

    Yet he failed to call the police, as that would have been fake money printed by the Guptas in their place of residence.

    There is no way in hell the Guptas would have had that cash in their house, Sars & FIC would have picked it up immediately (large cash withdrawal).

    Yes later both Jonas & Gordhan tried to justify their unfounded allegation they attempted to use the FIC report of suspected transactions, which we all know it backfired on them.

    This has been nothing but a smear campaign or game of putting a cloud over certain individuals’ integrity for the purpose of reputation damage in the public domain/

    Mr Brian Molefe became a casualty of this games of thrones.

    The moment of truth has come! Both Jonas & Gordhan need to produce the proof to Hon Judge Zondo!

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