Eskom has recovered the R30 million paid to Brian Molefe’s pension benefit of the Eskom Pension and Provident Fund. In a brief statement on Wednesday, the power utility said the money had been unlawfully paid to its former chief executive officer in 2016.
ESKOM has recovered the R30 million unlawfully paid to Brian Molefe’s pension benefit of the Eskom Pension and Provident Fund.
In a brief statement on Wednesday, the power utility said the money had been unlawfully paid to its former chief executive officer in 2016.
“In July 2022 the North Gauteng High Court reaffirmed a 2018 high court judgment that had reviewed and set aside a 2016 early retirement agreement between Mr Molefe and Eskom,” it said.
Eskom said that in terms of the agreement, it had paid approximately R30 million to boost Molefe’s early retirement pension payout.
Molefe, who is also a former Transnet CEO, and former Transnet finance head Anoj Singh appeared in the Palm Ridge Specialised Crimes Court on charges relating to a R398.4 million fraud and corruption matter.
The former Transnet executives and their co-accused – Regiments Capital directors Niven Pillay, Litha Nyhonhya and Siyabonga Gama, former group chief financial officer Garry Pita, former group treasurer Phetolo Ramosebudi, Regiments shareholder Eric Wood, Trillian Asset Management director Daniel Roy (Novum Asset Management) and Kuben Moodley, Albatime Pty Ltd owner – are charged with contravention of the Public Finance Management Act (PFMA) and fraud, while the other accused are charged with fraud, corruption and money laundering.
Investigating Directorate spokesperson Sindisiwe Seboka said the group was arraigned on charges stemming from the locomotives transaction advisory tender which was awarded to the McKinsey-led consortium in 2012, resulting in the procurement of 1,064 locomotives worth more than R54 billion.
She said Regiments Capital was irregularly onboarded and ended up benefiting from the irregular appointment by Transnet in respect of the contract.
“The contract value and scope for the services required was later escalated to more than R305 million. This agreement included, amongst other services, the sourcing of the China Development Bank loan and the club loan which were in the amount of $2.5bn, on behalf of Transnet. The accused also face charges linked to the R93.4m paid to Trillian Asset Management in 2015,” Seboka said.
The Investigating Directorate said the senior executives arrested were granted bail of R50,000 each. The accused are Pillay, Nyhonhya, Molefe and Singh, and their bail conditions include the handing in of their passports.
The State further issued warrants of arrest for Salim Essa and Ashok Narayan, who is currently out of the country. All of the accused are expected to return to court on October 14.
