Eskom initiate steps to recover funds from former executives

News South Africa

Tebogo Msimanga

Eskom and the Special Investigating Unit on Monday issued summons in the North Gauteng High Court to recover R3.8 billion from former Eskom executives, former Board members, members of the Gupta family and their associates. The funds were lost in corruption at the power utility.

The defendants are former Eskom employees Brian Molefe (Group Chief Executive Officer), Anoj  Singh  (Chief  Financial  Officer),  Matshela  Moses  Koko  (Group  Executive:  Generation and  former  Acting  Group  Chief  Executive  Officer),  as  well  as  Suzanne  Margaret  Daniels (Company  Secretary  and  Group  Legal  Head). 

Eskom  also  seeks  damages  against  non-executive  directors  Baldwin  Ben  Ngubane  (Board  Chairman, Chwayita Mabude (Board Member);  Mark  Vivian  Pamensky  (Board  Member);  Mosebenzi  Zwane  (former  government minister of Mineral Resources);  Salim Aziz Essa;  Rajesh Tony Gupta; Atul Gupta  and Ajay Gupta (collectively referred to as the “Gupta Brothers”). 

The  Gupta Brothers  owned  the  majority  shares  in  entities  (Oakbay Investments  Limited  and  Fidelity Enterprises  Limited)  that  in  turn  owned  the  majority  shares  in Tegeta Resources  & Exploration. The Gupta Brothers are currently fugitives from justice in South Africa and are based in Dubai.

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