Business Unity call on Tokyo Sexwale’s theft claims to be investigated

Business Unity South Africa (BUSA) says claims made by African National Congress veteran Tokyo Sexwale about the South African Reserve Bank and National Treasury cannot be verified unless there is proof of fraud or theft.

This after Sexwale claimed that money held in the so-called White Spiritual Boy Trust Fund had been stolen.

He says the money was held in private accounts at the Reserve Bank and was unlawfully transferred into six accounts of commercial banks and individuals. The HAWKS say an investigation is underway.

Treasury and the Reserve Bank have denied the claims.

BUSA CEO Cas Coovadia says, “We know for a fact that the Reserve Bank has conducted itself very well throughout the years. It has been one of those institutions that has been honest with the public and if the Reserve Bank says there is no such thing, and it is a scam, then we have to accept that. Unless Mr Sexwale can essentially show the money, one has got to take it as the bank and Treasury says is a scam.”

Hawks confirm investigation into Sexwale’s fraud claims

The Hawks say it’s too early to speculate on the names of suspects implicated in allegations of fraud or theft of the so-called Heritage Fund.

Hawks confirmed that an investigation is under way after Sexwale claimed that the money had been stolen.

Hawks Spokesperson Katlego Mogale says, “The Directorate of Priority Crime Investigation (DPCI) can confirm that a case of fraud, alternatively theft, was opened with regards to the so-called Heritage Fund as reported by the complainant. It is too early in the investigation to speculate as to who the role players are and it is not the norm of the DPCI to reveal names of suspects or persons of interest before allegations are properly investigated and such suspects have been court.”

Sexwale held a media briefing on Thursday to clarify his claims that the money held in the White Spiritual Boy Trust Fund was stolen.

The businessman alleges that the fund was meant to help drive infrastructure development programmes on the continent and across all Indian Ocean Island States.

Below is Tokyo Sexwale’s full briefing:

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He told the media that the fund was also meant to boost COVID-19 relief grants from R350 to R2 700 a month in South Africa. Sexwale also says the fund is based in Singapore and is owned by a Chinese investor called Chuck Leong.

According to Sexwale, he was joined by Godwin Webb as a joint mandate holder of the fund.

The Reserve Bank and Treasury have denied the claims. They say Sexwale was scammed.

Source: SABC News (