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TimesLIVE reports that state-owned arms manufacturer Denel says it is pursuing civil and criminal action against former executives following several forensic investigations into alleged fraud and misappropriation of money.
Group CEO Danie du Toit said he had already received several reports concerning improper transactions, irregular appointments and potential fraud, while other investigations were in advanced stages. The reports have been referred to independent legal firms to review the evidence and to help with the implementation of the recommendations. Nonetheless, Denel has already taken a number of corrective steps, including civil action against some former executives to recover monies lost through the irregular awarding of pilot bursaries. Civil claims will be instituted against former bosses once the quantum of other losses has been determined. Meanwhile, Solidarity indicated that it would this week serve urgent court papers on the company to force it to pay outstanding unemployment insurance and tax contributions. The trade union said it has also started a process in terms of the Companies Act to have alleged mismanagement and corruption perpetrated by former Denel directors investigated, with a view to their possible prosecution. On Wednesday, Du Toit said the company was aware of the contents of a dossier on alleged corruption compiled by Solidarity and of the union’s intention to institute legal steps to investigate the issues. “It is completely untrue to allege that Denel has not taken actions to investigate transgressions and recover the money,” said Du Toit, adding that Solidarity had been kept in the loop on the investigations, along with other stakeholders. “We are in an advanced stage of investigations and there is no need to compel us to act through court actions,” Du Toit stated.
- Read the full original of the above report TimesLIVE
- Read too, Solidarity tackles Denel head-on, at SA Labour News (press statement)
Get other news reports at the SA Labour News home page