On Now
Weekdays 19:00 - 23:00
OFM Nights Ashmund
NEXT: 23:00 - 23:59 Overnight with Oscar
Listen Live Streams

National

Former Eskom director found guilty of fraud, money laundering

───   04:50 Tue, 21 Jun 2016

Former Eskom director found guilty of fraud, money laundering | News Article

Johannesburg - The former managing director of Eskom, Dawid Malherbe, was found guilty of fraud and money laundering on Friday at the Bellville Specialised Commercial Court, police said in a statement.


Malherbe was arrested with another suspect in 2013 after a whistle-blower alerted the Hawks to irregularities in the power utility’s tender awarding process, police said. "The Financial and Asset Forfeiture Investigations and Anti-Corruption Task Team investigated the allegations and found that Malherbe, during his tenure as Eskom’s managing director between 2007 and 2009, unduly awarded tenders to Energy Utility Services (PTY) LTD, the company which he owned.

"The results of the internal investigations as well as the reports from the external auditors found that Malherbe’s actions of awarding tenders to his company amounted to irregular, wasteful and fruitless expenditure. At the knowledge of the results, Malherbe immediately resigned," police spokesperson, Lieutenant Colonel Robert Netshiunda, said.

Netshiunda said Eskom endured losses in the region of R65 million. "The Asset Forfeiture Unit has thus far managed to recoup approximately R10 million through the attachment of the accused’s assets," he added. The second accused was granted immunity from prosecution after agreeing to testify against Malherbe, Netshiunda said.

National Head of the Hawks Lieutenant General, Mthandzo Ntlemeza, welcomed the guilty verdict and applauded the investigating team for securing a conviction. Sentencing proceedings were scheduled for August 11.

-News24.com

@ 2024 OFM - All rights reserved Disclaimer | Privacy Policy | We Use Cookies - OFM is a division of Central Media Group (PTY) LTD.