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Aurora's Mandela to face fraud charges

Mar 05 2012 17:33
Sapa
Johannesburg - Charges of fraud will be laid against former president Nelson Mandela's grandson Zondwa Mandela and Aurora Empowerment Systems' lawyer Ahmed Amod, Pamodzi Gold lead liquidator Johan Engelbrecht said on Monday.

"The fraud charges result from evidence obtained by the inquiry in terms of Section 417 and 418 of the Companies Act into the trade, dealings and affairs of Pamodzi," Engelbrecht said in a statement.

Documents showed misrepresentations had been made to the securities regulation panel of the Johannesburg Stock Exchange when Aurora intended purchasing Labat shares.

Engelbrecht said the misrepresentations contributed to the delay in allowing the Pamodzi liquidators to cancel the deal with Aurora.

The Pamodzi Gold liquidators would lay charges in next two days, he said.

Aurora Empowerment Systems, led by Zondwa Mandela and President Jacob Zuma's nephew Khulubuse Zuma, was singled out as the preferred bidder for Pamodzi's mines when the company went into liquidation in 2009.

Its management contract was cancelled after the company was accused of destroying infrastructure at the mines and causing the loss of more than 5 300 jobs.

Zondwa Mandela could not be reached for comment.

 
 
 

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