SARB denies sending an official to Singapore to verify Spiritual White Boy Trust Fund’s existence

The Reserve Bank has denied that any of its officials travelled to Singapore in 2016 to verify the existence of the Spiritual White Boy Trust Fund.

In a letter, said to be from Leong Chark Boey, who claims to be the proxy of the White Spiritual Boy Trust and Spiritual Wonder Boy Trust, the writer claims the Reserve Bank’s Leon Myburg travelled to Singapore to verify the funds – said to be deposited at the Reserve Bank.

The Reserve Bank says the Central Bank does not send its officials to other parts of the world to verify the existence of funds. It says the original story on this said the funds were deposited at the Reserve Bank and the letter states that the funds can be verified in Singapore.

It says, given that it had already determined that said funds did not exist, travelling to Singapore would serve no purpose and that it would not do this.

ANC Veteran and businessman Tokyo Sexwale first made the claims about the existence of the fund during a recent television interview.

SARB shareholder explains how the “White Spiritual Boy Fund” works:

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He said the money, allegedly meant for infrastructure development and educating the poor, was stolen and transferred to different bank accounts across various banks here at home and internationally.

Sexwale claims to have alerted the Finance Minister, the Reserve Bank Governor and the President of the country about the alleged crime – but they all turned a blind eye.

The Reserve Bank and the National Treasury have, however, dismissed the claims as nothing but a common scam.

The Hawks are investigating the matter.