25 May 2024 | 09:31 AM
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Regiments Capital

The City of Johannesburg's tainted sale of Kgoro Central, the “most important piece of undeveloped real estate in South Africa”, cheated municipal coffers of at least R280-million but seems to have made some politically-connected people rich.
After allegations emerged in court of yet another scam that Regiments Capital used to plunder a Transnet pension fund, Regiments directors quickly agreed to pay half a billion rand to settle all the fund’s claims against it. But Eric Wood, a former director, has gone to court to quash the deal, claiming his former colleagues are using the company’s money to save themselves, leaving him to face the music.
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