Piers Marsden informed the Hawks in July 2016 of dodgy Eskom transactions

On Wednesday, business rescue practitioner Piers Marsden, told Parliament during the state capture inquiry into Eskom, that the power utility paid the Gupta owned Tegeta mining company more than half a billion rand to help it buy the Optimum coal mine.

The transaction pertains to the sale of Glencore’s Optimum mine to Tegeta, which Marsden says he had found suspicious and reported to the Hawks.

EWN Reporter, Lindsay Dentlinger reports that Marsden detailed the events of how Optimum mine was purchase by Tegeta and how it all unfolded beginning with an offer by Bembani to buy it which was rejected by Eskom. There was later an offer by KPMG on behalf of Tegeta to buy the mine, says Dentlinger.

With just four days to go before the transaction had to be concluded, Oakbay informed the business rescuer that there was some R600 million short of the financing required to buy the mine.

Lindsay Dentlinger, Parliamentary reporter at EWN

Read: Optimum Coal Mine in the spotlight as Eskom inquiry continues

It was only just hours later when that a meeting was convened at Eskom, where a pre payment was made directly to Tegeta of about R586 million. That money went directly from Eskom to Tegeta before it even became a shareholder of the Optimum mine.

Lindsay Dentlinger, Parliamentary reporter at EWN

Dentlinger says Marsden found the transactions suspicious and reported that to the Hawks.

According to Dentlinger, he laid the complaint with the Hawks around July last year and it wasn't until this week that he heard from the Department of Priority Crimes, informing him of a new investigative officer on the case and that there were requests to interview him again.

Listen to the EWN report in the clip below:


This article first appeared on 702 : Piers Marsden informed the Hawks in July 2016 of dodgy Eskom transactions


Recommended

by NEWSROOM AI
Read More
Optimum Coal Mine in the spotlight as Eksom inquiry continues

Optimum Coal Mine in the spotlight as Eksom inquiry continues

The inquiry heard from business rescue practitioner Piers Marsden testifying about the sale of Glencore's Optimum.

Portfolio Committee chair shocked by latest testimony in Eskom inquiry

Portfolio Committee chair shocked by latest testimony in Eskom inquiry

A former Trillian employee revealed that Trillian CEO Eric Wood knew Nhlanhla Nene would be axed as Finance Minister.

Political desk: Mothepu's testimony is proof of insider trading - Karima Brown

Political desk: Mothepu's testimony is proof of insider trading - Karima Brown

Former Trillian employee Mosilo Mothepu gave testimony on Tuesday.

Whistleblower reveals damning evidence in state capture probe

Whistleblower reveals damning evidence in state capture probe

Parliament's Eskom inquiry resumed on Tuesday with whistleblower, Mosilo Mothepu giving testimony on Trillian and Eskom.

Bathabile Dlamini seems determined to have CPS stay on - Brown

Bathabile Dlamini seems determined to have CPS stay on - Brown

Karima Brown shares the latest in political news.

Software company SAP reports its Gupta links to US authorities

Software company SAP reports its Gupta links to US authorities

EWN's Gia Nicolaides and Corruption Watch Dave Lewis on the global software company SAP and the Guptas.

The country is in a state of ICU but nothing is being done - Iraj Abedian

The country is in a state of ICU but nothing is being done - Iraj Abedian

Economist Dr Iraj Abedian says the Mid-Term Budget delivered in Parliament is very concerning, even the rand reacted to it.

Treasury admits SA is in trouble

Treasury admits SA is in trouble

Dondo Mogajane, Director General of Finance at National Treasury is adamant that their job is informed by the Constitution and dictated by law.

Most important aspects of Malusi Gigaba’s ‘mini-budget’ speech

Most important aspects of Malusi Gigaba’s ‘mini-budget’ speech

Bruce Whitfield asks Investec Asset Management Economist Nazmeera Moola to distil the Medium Term Budget Policy Statement.

'Gigaba will have to bridge a roughly R40 billion shortfall in revenue'

'Gigaba will have to bridge a roughly R40 billion shortfall in revenue'

Economist Goolam Balim says debt and dwindling tax payments are only some of the financial constraints government is facing.

Popular articles
[LISTEN] Court to rule if state should continue paying Zuma’s legal fees

[LISTEN] Court to rule if state should continue paying Zuma’s legal fees

Former president Jacob Zuma will hear on Thursday whether he will have to foot the bill for his corruption case.

Hawks nab seven traffic officials in Khayelitsha for taking bribes

Hawks nab seven traffic officials in Khayelitsha for taking bribes

Western Cape Hawks spokesperson says those who paid the bribes will also be arrested.

Storm in a 'G' Cup -  why are SA clothing retailers ignoring big-breasted women?

Storm in a 'G' Cup - why are SA clothing retailers ignoring big-breasted women?

Many women say they are forced to buy bras from overseas and import them to SA at great expense.

Popular shoe brand Vans ask Ackermans to remove "knock-offs" from shelves

Popular shoe brand Vans ask Ackermans to remove "knock-offs" from shelves

Vans' brand manager says although this is a recurring problem its main concern is that this particular "fake" is a very close copy.

10 safety tips from Sanparks following latest robbery at Table Mountain camp

10 safety tips from Sanparks following latest robbery at Table Mountain camp

The Slangkop Tented Camp in Kommetjie was hit by thieves the weekend. Here's advice on how to keep safe in the area.

Here's how to check your load shedding schedule in Cape Town

Here's how to check your load shedding schedule in Cape Town

Eskom has warned that more power cuts can be expected as maintenance continues over the next twelve months.