MK- corrupt to the bone

[Kommedoor]

http://www.busrep.co.za/index.php?fArticleId=3485350

Hunt on to trace R1bn in investments by MKMVA chiefs
October 15, 2006

By Wiseman Khuzwayo

Johannesburg - A paper trail is being followed to trace about R1 billion in investments ostensibly made on behalf of the military veterans of the ANC, according to an office bearer of the Umkhonto weSizwe Military Veterans' Association (MKMVA).

Reuben Mahlagare, the general secretary of MKMVA, said his executive had been given a mandate by the membership to recover the organisation's assets.

Mahlagare and Nombeko Daniels, the MKMVA national chairman, have accused Deacon Mathe, the former MKMVA chairman, and Dumisani Khoza, the former treasurer, of using the MKMVA name to make investments and then using the profits for their personal gain.

Mathe and Khoza have in the past denied misappropriating profits from MKMVA investments. They said the money had been used to bury MKMVA members and to pay for bursaries for MKMVA members' children at tertiary institutions.

Both were allegedly ousted as MKMVA office bearers at the organisation's national conference last year.

MKMVA claims to represent 46 000 former ANC fighters. The MKMVA Trust was formed in 1996 and was launched by former president Nelson Mandela.

Mahlagare and Daniels said no money had been forthcoming despite the investments.

Mahlagare said: "We are busy with legal proceedings to reclaim the assets from several persons Â… However, I give my personal assurance that we would be appropriately grateful and reconciliatory towards anyone who has benefited from MKMVA assets and voluntarily discloses relevant information.


"The bottom line is that we are very concerned about the needs of more than 46 000 members and over 300 000 direct or indirect dependants. Many of them … need all the financial support they can get."

MKMVA, through Mabutho Investment Holdings, is a shareholder in Mvelaphanda Holdings through the Northam Platinum empowerment transaction that Mvela structured and financed. For this, Mabutho received a dividend of R10 million in December 2002.

When controversy arose over the money not having benefited MKMVA members, Mvela called upon Mathe and Khoza to account for the dividend. The company later said it was satisfied that the R10 million had been paid to the legally mandated and correct contracting party.

Mvela and Mabutho agreed that the residual shares and interests Mabutho held in Mvela would be transferred to the MKMVA Trust.

Mahlagare said the MKMVA executive had discovered that the MKMVA section 21 company purportedly established by Mathe and Khoza to control investments on behalf of MKMVA did not exist.

To prevent future misrepresentations, he said, the name MKMVA and its logo had been trademarked.

No surprise here - corrupt as always

 

[Nick333]

No surprise here - corrupt as always

Who is?

 

[Getafix]

Stealing from their own!

Be possitive.

 

[Kommedoor]

@Nick333

Deacon Mathe, the former MKMVA chairman, and Dumisani Khoza

a.k.a the black elite, fat cats, gravy trainers, puppets placed in high positions, goverment officials etc.

 

[kingrob]

It's not just MK that's corrupt to the bone, it's the ANC, most government employees, police, etc.

Really don't know how this country function anymore - but sooner or later, it will come to a grinding halt.

 

[kilo39]

I wish someone would run the numbers; the literally thousands of civil servants, government minions - and government - that have been charged with corruption or nefarious dealings - THOUSANDS!!!

Scorpion claims she was collecting evidence October 16 2006
The Randburg regional court refused bail to senior Scorpions advocate Portia Kgantsi on Monday.

She was arrested earlier this month for bribery, corruption, extortion and defeating the ends of justice.