Fin24

Deputy minister linked to missing R100m

2011-06-09 07:58

Johannesburg -  Deputy Minister of Economic Development Enoch Godongwana and his wife Thandiwe have been linked to a company that disappeared with R100m in workers' pensions, The Star newspaper reported on Thursday.

The SA Clothing and Textile Workers' Union (Sactwu) is trying to get the R100m of pension funds back from an investment company.

The money was placed with Trilinear Empowerment Trust, which in 2007 agreed to lend R93m to Canyon Springs Investments 12, so that it could buy an unnamed and unlisted company, but the deal never happened.

Canyon Springs Investments 12 could not repay the loan as it had allegedly "lost" the workers' money

Canyon Springs is currently facing liquidation proceedings in Cape Town.

The Godogwanas acknowledged to The Star that one or the other of them had been linked to Canyon Springs since at least November 2007.

In a joint statement, they said Enoch was chairperson from November 2007 to May 2009, while the wife had been a non-executive director since May 2009.

The loan payments were made from March 2007 to December 2009, and the loan agreement was signed in February 2009.

Cosatu said on Tuesday said it was "shocking" that the low-paid clothing and textile workers could lose millions through the loan that was allegedly "lost".

"If these allegations are proved to be true, it is absolutely shocking. Textile workers are the lowest paid workers in the whole of the manufacturing sector," Cosatu spokesperson Patrick Craven said in a statement at the time.


Comments
  • mik - 2011-06-09 08:43

    LEKKA TO WORK FOR GOVERNMENT NE? 100m GOES MISSING FOR HOW LONG WITHOUT BEING NOTICED? They were stuuuuuuuuuuupid enough not to disappear.

      CharlieSheen - 2011-06-09 13:17

      How the hell doe 100MM just go missing? "Eish, I went to the bathroom, and when I came back, it was gone. Then I forgot."

      Jynxd - 2011-06-09 13:38

      http://www.avaaz.org/en/south_africa_stop_the_secrecy_bill/?copy

      fpillay - 2011-06-09 14:31

      The money did not go missing from government, its textile workers pension money.

  • 3-D - 2011-06-09 08:43

    Yep, there goes the Neighbourhood...Stealing in the name of...OFF WITH THEIR HEADS!!

  • chiepner - 2011-06-09 08:45

    Dear COSATU. If these allegations are proven to be true nothing will happen. No action against those who stole the funds and the people that will suffer the most will be the working class poor who struggles to put bread on their table while blindly following ruthless greedy leaders like these with candy coated promises and a union like yourselfs whom is should be fighting for the poor supporting the corrupt elite in their drive to secure another term in office while allowing these pilligers to keep on infesting and destroying our country and people.

  • Hackney - 2011-06-09 08:46

    South Africa is the only country in the world where affirmative action is in the favour of the majority who has complete political control. The fact that the political majority requires affirmative action to protect them against a 9% minority group is testament to a complete failure on their part to build their own wealth making structures, such that their only solution is to take it from others."

      sibusiso.mpofu1 - 2011-06-09 14:37

      U mad! Go to hell! You stole so much that you think you deserved it. U suck. Thank Mandela you skunk!

      kleindeef - 2011-06-09 16:50

      Sibusiso. Whats wrong? Are you scared to compete?

      Mr D - 2011-06-10 04:08

      @ Hackney..I see u also read the Star here in London

      Mac - 2011-06-10 12:39

      Absolutely correct! How to protect the giant from the little 9% dwarf? How can one keep on justifying such nonsense?! Their DNA predisposes them to be what they have always been and will always be. Unable to invent a wheel, build, write or reckon (or spell!!) until we showed them how it is done.

      JoeJoe - 2011-06-11 08:16

      Sibusiso, the ANC is not doing a bad job of stealing either, must actually say, "Doing an excellent job".

  • bill - 2011-06-09 08:47

    JZ and his gang are completely corrupt.

  • Grayman - 2011-06-09 08:47

    OK ANC, here is a perfect chance for you to redeem yourselves and show us that all your promises of war on corruption etc etc etc is not just lip service. Take this one by the horns and make an example of them. I am watching ... I don't see anyone responding yet ... I wonder why????

      croix - 2011-06-09 12:32

      Don't hold your breath, Sir! More likely a "golden kick" up the "you know what", or re-deployment (or both!). It's been going on for way too long and the amounts are 'staggering'! Result? = NOTHING!!! The ANC has zero shame!

  • jds - 2011-06-09 08:49

    Here we go again...this is going to entertain us for a while!

  • Garfield - 2011-06-09 08:50

    Got to love our Public figures, and The Chop Patrick Craven,

  • Gonk - 2011-06-09 08:50

    Knew this guy when he was a shopsteward in Butterworth. Admired him then. What is the saying about absolute power?

  • Nasdaq7 - 2011-06-09 08:55

    Well they voted for the ANC. Who cares. Go get it from that liquidated company.

      B.MAC - 2011-06-09 15:41

      Have to agree. You get what you vote for... but still feel very sorry for the workers because of course those who blatantly stole the money will not have to pay anything back; they will continue to live in their multi million rand houses, drive their beemers & fancy 4x4s; fly first class where they want...

  • tut - 2011-06-09 08:56

    The list of corruption cases is endless. This Government has no shame and 17 years into democracy people are still living like in unnacceptable conditions while tax payers money is being stolen form the coffers. I would be bold enough to say that the ANC is probably the most corrupt political party in our solar system. Disgusting!

      Freddie - 2011-06-09 12:00

      If the report is correct, this isn't corruption, it is straight forward theft.

  • Momus - 2011-06-09 08:57

    For once i have to side with COSATU - don't let the Protection of Information Bill get passed. Before the pointy white hat Klan members expressed thier predictable race-based comments on this site - all reasonable, rational and civilised folk; take a stand against the Protection of Information Bill. This kind of theft will be covered up if we don't.

  • michaelx - 2011-06-09 08:58

    VOTE VOTE FOR THE ANCEEE AND YOU CAN LIVE IN MISEREEE.....

  • Christo - 2011-06-09 08:58

    To be honest...I'm not surprised. We have such a corrupt government it's just sickening...and it's the people who voted for them who suffer the most (except the select few)...

  • 3-D - 2011-06-09 08:59

    Yep, there goes the Neighbourhood...Stealing in the name of...OFF WITH THEIR HEADS!!

  • Playnice - 2011-06-09 08:59

    Deputy Minister of Economic DEVELOPMENT ??? Only thing he developed was his own bank account. Suppose he qualifies for promotion now.

  • Barry - 2011-06-09 08:59

    What`s new What a dirty thing to do with the peoples money

  • Gorilla - 2011-06-09 09:00

    A minister involved in missing money? Shock Horror. What a surprise! NOT.

  • Playnice - 2011-06-09 09:01

    Deputy Minister of Economic DEVELOPMENT ??? Only thing he developed was his own bank account. Suppose he qualifies for promotion now.

  • TrippiZee - 2011-06-09 09:01

    Act Surprised :O

  • Tommy - 2011-06-09 09:02

    Yup! Same old same old!

  • Coconut - 2011-06-09 09:02

    More ANC member and cadres on the take. When will the masses who vote for the thieves wake up and realise that they are being taken to the cleaners. Absolutely disgusting that they ANC thieves and thugs will go so low as to steal from the poorest of the poor. Find them guilty and hand them over to the masses for mob justice.

  • Barry - 2011-06-09 09:02

    What`s new Typical ANC WHAT A DIRTY THING TO DO WITH THE WORKERS MONEY. I hope they recover every cent plus interest and send the thieves to goal for a very very very long time

      croix - 2011-06-09 22:22

      Barry, I like Coconut's plan better : Some good, old fashioned and very effective MOB JUSTICE! Can I watch, pleeeeze?

  • Leviathan - 2011-06-09 09:03

    wow why go small wen u can go big. R100 million! wat can u expect from government.

  • JohnnyBB - 2011-06-09 09:03

    ....totally and absolutly corrupt...!! .....stealing from the poor....!!

  • Hansie - 2011-06-09 09:03

    Eyo-yo hier gaan ons alweer!

  • LexLuther - 2011-06-09 09:03

    I wonder if the money was "lost" in a Swiss bank account?

  • BigD - 2011-06-09 09:03

    OK. Zuma. This is a test. Stand up and deliver what you promised us about corruption. Put this trieves in jail for 30 years each. Then attach all their property and sell it off to try and recoup some of the losses. This case can be in court next week if you want.

  • lounel - 2011-06-09 09:03

    and y am i nt surprised?

  • PB - 2011-06-09 09:04

    What are the chances of them being prosecuted? Choo-choo, the gravy train is rolling right over the poor and helpless...

  • Dan - 2011-06-09 09:04

    VIVA ANC VIVA!!!!! And the corrupt government just continue raping the country. Well done ANC with your minister, deputy ministers, councillors and don't forget the fsamily and friends. Who is going to protect who this time round I wonder? Really sad and one must spare a though for the workers. Maybe it is time COSATU break ties with the ANC. It can only benefit all.

  • vusi22 - 2011-06-09 09:04

    We are a capitalist world! its corruption corruption corruption!

  • vsquad - 2011-06-09 09:04

    WTF, what will JZ do about this. I guess nothing ziltch

  • Dumba1234 - 2011-06-09 09:06

    mmmm Vote ANC again

  • tut - 2011-06-09 09:06

    African National Chaingang in action. Corruption so rife its almost like the daily weather report - "Today we will see Funds exceeding numbers around the millions, partly mismanaged with showers of expensive luxury vehicles in the afternoon".

  • Seinfeld - 2011-06-09 09:07

    Well done comrade!! E thes wite end de wekas peeple tink us cadres is stoopid!! Look how cleva us straggle comrades we is.....!!!! Its amazing to witness the the scheeming and sheer brilliance in the deployed cadres when there is a wiff of money up for grabs! But ask them to actually do an honest days work.......and you will see the efficiancy of an infant trying to change a nappy! What these poor souls that got ripped off must remember is that the people always get the government they vote for and the point of no return is long gone. Enjoy the anc and remember this day when you cast your next vote!

  • PIET VENTER - 2011-06-09 09:07

    Ja, now they will maybe put on suspension for 2 years with full pay, repremanded and carry on with their tricks

  • Ockert - 2011-06-09 09:08

    Obviously throwing his hat into the Presidentail race,

  • Lump of coal - 2011-06-09 09:09

    So why does Patrick not get off his lazy commie ass and sue those responsible ????

  • Ngwenya47 - 2011-06-09 09:09

    Should they be surprised? Surely this has now become the norm.

  • Ockert - 2011-06-09 09:09

    Obviously throwing his hat into the Presidential race.

  • kidblack - 2011-06-09 09:10

    no suprise there.

  • Die Bees - 2011-06-09 09:11

    You made your now you have to sleep in it.

  • Green Oaks - 2011-06-09 09:11

    And why am I not surprised

  • lounel - 2011-06-09 09:12

    y am i nt surprised.

  • Mike or Mpho - 2011-06-09 09:13

    Vote ANC again, it will make things better, hahaha!

  • MandlaSithole - 2011-06-09 09:13

    Trully shocking. These are the people that should be looking after the country but they are milking it dry.

  • ji - 2011-06-09 09:13

    ANC and ANCYL officials just seem to thrive on fraud and corruption and when voting comes around the brain dead and uneducated masses always vote these thieves in for more theft , fraud and corruption . VIVA ANC VIVA DISHONESTY VIVA THE DUMB VOTER .

  • Uneducated - 2011-06-09 09:13

    What more can you say .....and you vote for them.Another cANCer in making....Same story different day.When will they learn to stop appointing thiefs and criminals to senior goverment positions.Follow the trend and see were it stops....at the TOP.

  • justmeme - 2011-06-09 09:13

    An ANC offical suspected off fraud, that's unheard off - this just can't be - not the ANC,they are known for their high morals and honesty at all times. Must be the dark forces again.