Case study: lack of due diligence at the heart of Covid-19 corruption

Weak oversight and poor due diligence enabled Northern Cape companies to qualify for Covid -19 emergency procurement.

VBS Truter

Update: VBS finance boss Truter strikes deal with NPA

The alleged fraudsters behind the bank’s destruction will face insider testimony when they go to trial. Their former colleague will be spilling the beans.

Instructions from the boss: Gupta-linked public enterprises DG in ‘irregular’ R22m procurement 

Leaked draft forensic reports claim Richard Seleke — the Gupta-tainted former public enterprises director general — pushed through a tender for a company he allegedly knew from the Free State. 

How VBS bet on saving itself with Prasa money — and lost by the skin of its teeth

In an extract from his new book, VBS: A Dream Defrauded, amaB investigator Dewald van Rensburg reveals how executives pulled out the stops to save their foundering bank with a R1-billion deposit from the passenger rail agency — a state-owned entity, if any, that could ill afford it.

Prasa pays R3m to Mbaks’s administrator — just before court culls him

On the eve of a court ruling that the transport minister had appointed Prasa’s administrator unlawfully, the rail agency rushed through payment for his nine-month tenure.

Part two: The hollow man? In the wars

In part one, we asked whether arms trader Ivor Ichikowitz was a “man of Africa”, as he says, or gutting some local assets while building an offshore empire. Now we look at detailed claims that his group hobbled a subsidiary by holding back resources when they were needed most.

FinCEN Files: Planes, boats and tax havens

Leaked US Treasury records offer a glimpse into the business empire of controversial Paramount founder Ivor Ichikowitz.

Former SAP exec implicates global software business in corruption probe

SAP executives in the US and Germany were repeatedly warned the practice of paying commissions to “business development partners” in South Africa was an invitation to corruption, a senior ex-colleague tells investigators.