We've got news for you.

Register on TimesLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Brian Molefe payout now a criminal case

06 August 2017 - 00:00 By MZILIKAZI wa AFRIKA

Former Eskom CEO Brian Molefe is facing criminal charges relating to the controversial R30-million pension payout from the power utility.
This week the Organisation Undoing Tax Abuse opened a case of fraud and contravening the Public Finance Management Act and company law against Molefe and former Eskom board chairman Ben Ngubane.
Outa wants the two to answer to accusations of gross and negligent accounting that led to Molefe receiving millions in pension and other benefits.The Sunday Times reported in April that the Eskom board, under Ngubane, approved Molefe's lucrative payout even though he had been at the power utility for only 18 months and had voluntarily resigned.
Documents submitted at the Randburg police station by Stefanie Fick, Outa's head of legal affairs, reveal that Molefe was paid R8.1-million before the pension payout was exposed.
The documents give a breakdown of money paid to Molefe after tax, between February and April this year:
• R7.79-million on February 1;
• R124,228 on February 9;
• R59,804 on February 28;
• R63,703 on March 31; and
• R73,905 on April 28.
He was also paid R2.9-million in December last year.
Outa believes the R8.1-million could have been a golden handshake or additional payment from Eskom. It wants the police to investigate this.
"While the payment has always been presented as a pension payout, documents relating to this payment hint that it could have been a golden handshake or additional payment from Eskom to Molefe, and laundered through the Eskom Pension and Provident Fund to appear as a pension payout," Outa's documents said.
Outa chief operating officer Ben Theron said: "They [Molefe and Ngubane] need to be brought to book."..

This article is reserved for Sunday Times subscribers.

A subscription gives you full digital access to all Sunday Times content.

Already subscribed? Simply sign in below.

Registered on the BusinessLIVE, Business Day or Financial Mail websites? Sign in with the same details.

Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.