Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Former Land Bank CEO in court

Mar 02 2011 15:58 Sapa

Related Articles

Verdict in winemaker, Land Bank case soon

Head of SA Bank Note sacked

Hawks arrest 'high-flyers' over fraud

Big business tackles corruption

Vavi: Beware of predatory elite

Corruption: SA at tipping point

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print
Pretoria - Former Land Bank chief executive officer Philemon Mohlahlane appeared briefly in the Commercial Crimes Court in Pretoria on Wednesday with three others accused of embezzling R19m from the AgriBEE scheme.

Mohlahlane, former Gauteng housing MEC Mpu Daniel Mofokeng, Khutso Mosoma and Matuba Maponya appeared in court on five counts of fraud and five counts of money laundering.

They were released on bail of R40 000 each and the case was postponed until May 3.

The four were arrested by the Hawks on Tuesday.

At the time, Hawks spokesperson McIntosh Polela said they allegedly transferred money from the AgriBEE fund to a firm of attorneys.

This money was then allegedly used to buy houses and cars, rather than to fund the struggling small, medium and micro enterprises for which it was intended.

National Prosecuting Authority spokesperson Mthunzi Nhaga said the four allegedly committed the offences between October 2007 and January 2008.

He said it was possible that further charges would be brought.

Limpopo Provincial agriculture spokesperson Kenny Mathivha said the department filed numerous charges related to misrepresentation with the Hawks last year.

The Democratic Alliance's Limpopo leader Desiree van der Walt said she approached the Hawks in Limpopo on Wednesday, and was told that charges had been laid against Mohlahlane by the Limpopo department of agriculture.

The board of the Limpopo Agricultural Development Corporation appointed Mohlahlane as its CEO last June after he was axed from the Land Bank after about two months in the position.

This came after a forensic report by PricewaterhouseCoopers apparently uncovered many irregularities.

The board appointed him over 22 other candidates, apparently without consulting provincial agriculture MEC Dipuo Letsatsi-Duba or Limpopo premier Cassel Mathale.

The Polokwane Observer reported in November that an investigation by an external auditing firm had revealed that Mohlahlane did not pass matric and that his degrees from US universities were bogus.

Mathivha said: "It's a litany of so many things that we are looking at."

He said he did not know when the matters related to the Limpopo Agricultural Development Corporation would be brought to court.

Van der Walt urged the provincial agricultural department to institute civil proceedings against Mohlahlane to recoup what he was paid of his R1.4m salary.

 
 
Comment on this story
6 comments
Add your comment
Comment 0 characters remaining
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

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

Loading...