The Portfolio Committee on Public Enterprises on Tuesday continued its inquiry into the mismanagement of funds into state owned enterprises (SOEs).
Appearing before the Committee as a witness was Mosilo Mothepu who was appointed CEO of Trillian Financial Advisory (TFA) effective from 1 March 2016.
Her testimony revealed startling details of just how Trillian Capital Partners CEO Eric Wood knew in advance that Finance Minister Nhlanhla Nene would be fired, and also had a hand in crafting a speech for Nene’s replacement, Des van Rooyen.
She gave the Committee a detailed account of how, in the absence of a business contract, Trillian got nearly R600 million from Eskom for advisory services.
Political analyst, Karima Brown says this serves as conclusive evidence or proof of insider trading.
It goes to the root of the truth of allegations that President Zuma had informed other people of his cabinet choices and that is a very big thing because it means he is in violation of the executive code of ethics and he is not meant to use that information to the benefit of private individuals.— Karima Brown, political analyst
Yesterday's testimony is almost the first smoking gun that confirms that if they were able to use this money to do insider trading then of course they knew of this information.— Karima Brown, political analyst
Click on the link below to listen to the full audio....
This article first appeared on 702 : Political desk: Mothepu's testimony is proof of insider trading - Karima Brown