Forensic probe flags R1.2 billion in 'suspicious transactions' at EOH

Excalibur

Excalibur

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An investigation by law firm ENSafrica has found evidence of up to R1.2bn in "suspicious transactions" at JSE-listed ICT group EOH.
ENSafrica recently completed a forensic probe into the firm.

"To date the ENSafrica investigation has found evidence of a number of governance failings and wrongdoing at EOH, including unsubstantiated payments, tender irregularities and other unethical business practices which are primarily limited to the public sector business centralised in EOH Mthombo (Pty) Ltd and to a limited number of EOH employees," EOH said in an update to shareholders on Tuesday.
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Link.
 
No government officials involved... So we are not outraged about this. NEXT!! ... Now where's that story about the police officer who took a R20 bribe, now that's outrageous corruption on a grand scale...
 
Well, there is no tax payer money involved. There is very little details and even the brief article says " the exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions, theft or bribery and corruption payments." So they could all turn out legit, or not. Considering it's a private company, it's really a matter for the board and shareholders to deal with.
 
hungrymamba said:
No government officials involved... So we are not outraged about this. NEXT!! ... Now where's that story about the police officer who took a R20 bribe, now that's outrageous corruption on a grand scale...
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Yes there are. Public sector business...
 
Eniigma said:
Well, there is no tax payer money involved. There is very little details and even the brief article says " the exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions, theft or bribery and corruption payments." So they could all turn out legit, or not. Considering it's a private company, it's really a matter for the board and shareholders to deal with.
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Oh? It was their SAP Public Sector business unit......

IE government contracts and what not.
 
hungrymamba said:
No government officials involved... So we are not outraged about this. NEXT!! ... Now where's that story about the police officer who took a R20 bribe, now that's outrageous corruption on a grand scale...
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Well, if you bother to read the story they know the individuals and are going to open criminal cases against them.

Slightly different to your average billion or two stolen in/by government.
 
hungrymamba said:
No government officials involved... So we are not outraged about this. NEXT!! ... Now where's that story about the police officer who took a R20 bribe, now that's outrageous corruption on a grand scale...
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In comparison to government scandals, I am not really outraged at this because poor people are not really going to be directly affected by gambling/corruption done in a private sector, especially this instance. And my tax money was not involved. One could argue that if EOH closes down, then there will be job losses for the low earning sector but that would be another story. This type of scandal should not happen anywhere but outrage in this case? No.
 
Not surprising. They were doing very dodgy things with the Microsoft licensing, now this. Seems like the company is rotten from top to bottom.

I was interviewed by them once. The woman I was going to report into said I would compete for her job, so she wasn't interested in me. Their salaries are also terribly low compared to the rest of the industry, so I probably would have not accepted any offer anyway. Seems like it worked out for the best. :oops:
 
The only time (and the last time) I took advice from a stock broker was when I invested in EOH. Big mistake!
 
Eniigma said:
Well, there is no tax payer money involved. There is very little details and even the brief article says " the exact nature of each of these transactions has not as yet been verified and may relate to legitimate transactions, theft or bribery and corruption payments." So they could all turn out legit, or not. Considering it's a private company, it's really a matter for the board and shareholders to deal with.
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Yes theft is okay, as long as there's no tax payer money involved.
 
surface said:
In comparison to government scandals, I am not really outraged at this because poor people are not really going to be directly affected by gambling/corruption done in a private sector, especially this instance. And my tax money was not involved. One could argue that if EOH closes down, then there will be job losses for the low earning sector but that would be another story. This type of scandal should not happen anywhere but outrage in this case? No.
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Private sector corruption is okay, that's just a summary of your post. Noted.
 
Emjay said:
Not surprising. They were doing very dodgy things with the Microsoft licensing, now this. Seems like the company is rotten from top to bottom.

I was interviewed by them once. The woman I was going to report into said I would compete for her job, so she wasn't interested in me. Their salaries are also terribly low compared to the rest of the industry, so I probably would have not accepted any offer anyway. Seems like it worked out for the best. :oops:
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Hammer - nail - head - boom!

https://www.itweb.co.za/content/VgZeyvJARRGqdjX9
EOH’s problems surfaced after software giant Microsoft in February terminated its contract with the IT services company after an anonymous whistle-blower reportedly filed a complaint with the United States Securities and Exchange Commission about alleged malfeasance to do with a R120 million contract with the SA Department of Defence.
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hungrymamba said:
No government officials involved... So we are not outraged about this. NEXT!! ... Now where's that story about the police officer who took a R20 bribe, now that's outrageous corruption on a grand scale...
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I"m so glad you're venting your opinion about things you clearly no nothing about. Well done!

** pats hungrymamba on the head **
 
Excalibur said:
Yes theft is okay, as long as there's no tax payer money involved.
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That's not what I said and you know it. I was replying to hungymambas post, my first mistake and I didn't quote it, my second mistake.

if there was any misuse of public (tax payer) funds then yes we should be out rage, if not, while it's not ok it's an internal matter and meh. Then it becomes intersting only in a sense of oh look a company not to deal with or work for.
 
Eniigma said:
That's not what I said and you know it. I was replying to hungymambas post, my first mistake and I didn't quote it, my second mistake.

if there was any misuse of public (tax payer) funds then yes we should be out rage, if not, while it's not ok it's an internal matter and meh. Then it becomes intersting only in a sense of oh look a company not to deal with or work for.
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So Bosasa was also an internal matter and meh?
 
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