• Change of culture needed

    The right leadership will help SA shed its culture of violence, says Mandi Smallhorne.

  • 10 tips to find bargains

    Susan Erasmus gives advice on how bargain hunters can get the most bang for their buck.

  • Inside Labour

    Labour's bitter breaches need to be seen in historical context, says Terry Bell.

Loading...
See More

Building cartel being probed - report

Feb 03 2013 14:17 Sapa

Related Articles

HSBC 'was go-to bank for drug cartels'

EU imposes record cartel fine on Philips

Top HSBC exec steps down

Tribunal rules on plastic pipes cartel

Wire mesh firms fined for price fixing

Lafarge fined in cement cartel case

 
Johannesburg - A probe shows top construction companies fixed state and other contracts worth billions of rands, City Press reported on Sunday.

Affidavits detail a decades-long, formal kickback and price-fixing racket that allegedly involved prominent names in the industry.

At least 11 affidavits were made by executives from Stefanutti Stocks to the Hawks serious economic offences investigator and the National Prosecuting Authority, the newspaper reported.

The statements were also handed to the Competition Commission for its probe into construction industry tender-rigging, thought to involve contracts worth at least R30bn.

According to the affidavits the projects "fixed" included the National Stadium (FNB Stadium) in Soweto, the Coega development project in the Eastern Cape, Green Point soccer stadium in Cape Town, the Nelson Mandela Bridge in Johannesburg, and the Gautrain.

In their statements the executives admit they may be guilty of fraud, corruption and racketeering, and offer to co-operate with police in exchange for immunity from prosecution. So far only one person had received this, according to the report.

Some of the companies allegedly involved in the bid-rigging were: Wilson Bayly Holmes Ovcon, Stocks & Stocks civil engineering, Murray & Roberts, Group Five, Concor, and Aveng.

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
12 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

20 self-made teenage millionaires

From selling lemonade to building webpages, these young entrepreneurs made a pretty fortune!

 
 

Luxury living

Top 10 richest musicians of all time
10 most expensive cars In the world
10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

How do you see your boss? He/sheis:

Previous results · Suggest a vote

Loading...