Eskom corruption: Tenders worth R178 billion 'red-flagged' in a decade - News24
Eskom gave tenders “red-flagged” for corruption worth R178 billion in the past decade, wrote Kyle Cowan, Sipho Masondo, and Azarrah Karrim in News24 on Monday.
That is enough to vaccinate South Africa’s entire population against Covid-19 20 times over.
It is also almost half of Eskom’s enormous R411 billion mountain of debt.
The information came to light after probes by law firm Bowmans and the Special Investigations Unit (SIU) that found a slush fund set up by senior executives into which contractors would pay a stolen fortune to fund luxurious lifestyles.
Corrupt tenders were even awarded for milk, tea, and toilet paper, at wildly inflated prices.
The Money Show’s Bruce Whitfield interviewed Cowan and Bernard Hotz, Head of Business Crimes & Investigations at Werkmans Attorneys.
This is just astounding! … It’s commercial terrorism! … There have to be civil and criminal consequences! … You have to fight nuclear battles with nuclear weapons! ... Take away ill-gotten gains! …Bernard Hotz, Head of Business Crimes & Investigations - Werkmans Attorneys
This has happened with all the SOEs…Bernard Hotz, Head of Business Crimes & Investigations - Werkmans Attorneys
These are complex commercial crimes… you have to investigate the minutiae… it’s a long process…Bernard Hotz, Head of Business Crimes & Investigations - Werkmans Attorneys
We’ve got an inordinate amount of information… We spent months sifting through it… Eskom is a place where lots of corruption has happened… We’re talking about companies that made billions of rands…Kyle Cowan, investigative reporter - News24
These files will contextualize that [accusations against Eskom CEO Andre de Ruyter] very nicely…Kyle Cowan, investigative reporter - News24
Listen to the interview in the audio below.
Source : https://www.123rf.com/photo_100454122_candle-in-the-dark-smoke-from-a-candle-.html?term=candle%2Bdarkness&vti=ocl14ujbtwzyhvikcq-1-92