Streaming issues? Report here
Aubrey Masango 2019 BW
The Aubrey Masango Show
20:00 - 23:59
volume_up
volume_mute

The Aubrey Masango Show
20:00 - 23:59
Home
arrow_forward
Business

CIPC lays criminal charges against tech firm SAP over Gupta-linked contracts

9 March 2018 7:52 AM
Tags:
Eskom
Guptas
SAP
The German software company has admitted that it paid more than $8 million to intermediary companies controlled by the Guptas.

German software company SAP announced on Thursday it had found irregularities in connection with the Eskom and Transnet contracts it facilitated.

This is after SAP completed its investigation into South Africa’s contracts relating to Gupta-controlled firms by law firm Baker McKenzie.

SAP admitted it paid more than $8 million to intermediary companies controlled by the Guptas.

The Companies and Intellectual Property Commission (CIPC) laid a criminal complaint against SAP in connection with the contracts.

Senior Manager of Enforcement at the CICP, Lana van Zyl, says the firm contravened section 2141 C of the Companies Act.

Read: SAP confesses to misconduct in SA public sector deals involving the Guptas

Section 2141 C of the Companies Act specifically refers to reckless conduct and non-compliance and it provides that the person is guilty, if they were a party to an omission or an act calculated to defraud the creditor or employee of the company or a holder of the company's securities.

Lana van Zyl, Senior Manager of Enforcement CIPC

CIPC opened a criminal case with the South Africa Police Service. It is now for Saps to investigate the matter, but we are assisting them with the information they might need.

Lana van Zyl, Senior Manager of Enforcement CIPC

Van Zyl says they have also opened criminal cases against KPMG and McKinsey.

To hear the rest of the interview with CIPC's Lana van Zyl, listen below:

Subscribe to our Business Wrap Newsletter


9 March 2018 7:52 AM
Tags:
Eskom
Guptas
SAP

More from Business

191018gwedegif

Analyst Chris Yelland gives Mantashe's energy plan a thumbs up

18 October 2019 4:54 PM

Government's new energy plan has been announced as the country deals with load shedding caused by Eskom's low generating capacity.

Share this:
Read More arrow_forward

160525HoutBayImizamoYethu.jpg

Meet Johnny Miller, the man using drone photography to change peoples' views

18 October 2019 2:46 PM

Photographer Johnny Miller discusses the impact of his moving work and how he captures his eye-opening images.

Share this:
Read More arrow_forward

171127natasha-mazzonejpg

'It turns out DA MP Natasha Mazzone was right about load shedding'

18 October 2019 1:34 PM

Last month, Eskom shut down claims by the Democratic Alliance that load shedding was on the cards.

Share this:
Read More arrow_forward

ea23d8d2-1283-4d6b-9bb6-dc96aad1f1cf.jpg

City says it will re-evaluate R100 lease fee once CT Stadium brings in money

18 October 2019 1:10 PM

Cape Town stadium will be leased to a municipal body that's subsidised by the city for R100 per annum.

Share this:
Read More arrow_forward

cemairjpg

Aviation body re-issues CemAir operating certificates

18 October 2019 11:30 AM

Sacca executive for corporate services Phindiwe Gwebu says the airline has given them an assurance that all issues are resolved.

Share this:
Read More arrow_forward

master-cardjpg

Are 'tap and go' cards safe? Maybe, suggests this case involving Standard Bank

18 October 2019 10:23 AM

Handsfree pickpocketing is a myth, says consumer journalist Wendy Knowler. But risks remain, suggests a case she took on.

Share this:
Read More arrow_forward

Mara Group

Dubai-based Mara Group opens South Africa’s first smartphone factory

18 October 2019 9:18 AM

The Money Show’s Bruce Whitfield interviews Toby Shapshak (Publisher at Stuff magazine) about the R1.5 billion investment.

Share this:
Read More arrow_forward

Divorce

Considering divorce? How to avoid getting poorer in the process

17 October 2019 2:43 PM

Personal finance expert Warren Ingram warns that divorce almost always destroys wealth. Here’s how to not lose your money.

Share this:
Read More arrow_forward

Light bulb against dark background, electricity, load shedding. Image: Pexels.

Eskom management inept says Sasmef, Cosatu calls for board's removal

17 October 2019 1:57 PM

Sasmef president Tebogo Kaas calculates cost of rolling blackouts, while union's Mike Shingange says Eskom board must go.

Share this:
Read More arrow_forward

basetsana-kumalojpg

'We discuss stocks and options with our children at the dinner table'

17 October 2019 1:51 PM

Bruce Whitfield interviews Basetsana Kumalo about her attitude to money (hopes and fears, successes and failures, etc.).

Share this:
Read More arrow_forward