Eskom goes to court to recover billions from former executives, Guptas

  • 📰 IOL
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Law Law Headlines News

.Eskom_SA and the Special Investigating Unit (SIU) have instituted legal proceedings to recoup monies from the power utility's former executives, the Guptas and associates lost to state capture corruption.

Pretoria – Eskom and the Special Investigating Unit have instituted legal proceedings to recoup monies from the power utility's former executives, the Guptas and associates lost to state capture corruption.

Former Eskom chief executive Brian Molefe, former chief financial officer Anoj Singh, former group executive for generation Matshela Moses Koko and former company secretary and head of legal services Suzanne Margaret Daniels are named as defendants. Eskom and the SIU said the claim for damages that Eskom suffered related to the recovery of approximately R3.8 billion illegally diverted from Eskom to help the Gupta family and its associates to acquire the operations of OCH, which owned the Optimum Coal Mining Ltd that supplied the Hendrina power station with coal.

"These 12 defendants acted in a concerted effort whose objective was the corrupt, alternatively irregular, diversion of resources from Eskom.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in LAW

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eskom, SIU take steps to recoup R3,8bnEskom confirmed through a statement that it and the Special Investigating Unit have issued a summons at the North Gauteng High Court to recoup the money.
Source: eNCA - 🏆 49. / 51 Read more »