South Africa has the second highest murder rate in the world. It is a favourite hangout for organised crime syndicates from every corner of the world..CORRUPTION...Who Cares ?
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Wednesday, November 21, 2012
Different sources paid for Nkandla - report
November 21 2012 at 09:13am
By Babalo Ndenze, Sapa
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President Jacob Zuma's private residence in Nkandla. File Photo: Bongiwe Mchunu
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Cape Town -
Evidence in Schabir Shaik's fraud and corruption trial revealed where some of the money for President Jacob Zuma's Nkandla home came from, Beeld reported on Wednesday.
According to the newspaper, Shaik, Zuma's former financial adviser, asked French weapons manufacturers for bribes, reportedly to help Zuma fund the development of his home.
During Shaik's trial, which ended in 2005, KPMG's forensic auditor Jan van der Walt testified that money was obtained from various third party sources to help Zuma pay a R1.3 million bill for a “cultural village”.
According to other testimony, Bohlabela Wheels, a subsidiary of Nora Fakude-Nkuma from Mpumalanga, made payments amounting to R140 000 to the company charged with construction at Nkandla.
Further evidence revealed that businessman Vivian Reddy stood surety for the sum of R400 000, which reportedly enabled Zuma to get a R900 000 housing loan from FNB.
During Shaik's trial in the Durban High Court, it emerged that Reddy was also responsible for payment of the loan, and that he made payments during 2003 and 2004. According to testimony an FNB housing loan official reportedly said in an internal e-mail: “I'm convinced that the appropriate authorities will help us bend the rules slightly.”
Presidential spokesman Mac Maharaj declined to comment.
While the Presidency said on Tuesday that it will produce evidence that Zuma has a bond for Nkandla, though not to the media, it would neither confirm nor deny that it was with FNB.
“We have noted requests for proof of the evidence of a mortgage bond for the first phase of the Nkandla residence as mentioned [by Zuma] in the National Assembly last week
“The evidence will be readily made available to an authorised agency or institution empowered by the law of the land. It is not being released to media to respect the privacy of the president as well as customer-institution confidentiality,” said Maharaj.
He said the Presidency had noted reports implying that Zuma may have misled the National Assembly when he said he had a mortgage bond on his residence in Nkandla.
“We reaffirm that President Zuma does indeed have a bond on the residence with one of the national banks and he is still paying it off monthly. We urge the media to respect the agencies that are investigating the various aspects of the security enhancements…,” said Maharaj.
Zuma said while answering questions in the National Assembly last week relating to the government’s reported spending of almost R250m on security measures at Nkandla that he paid for his home himself, and was still paying off the bond.
Without confirming Zuma was a client, FNB Home Loans CEO Jan Kleynhans said on Tuesday bonds on tribal land were offered only in exceptional circumstances.
FNB was unable to confirm the specifics of a client’s personal banking matters.
Kleynhans said the bank did not grant home loans to individual applicants for housing developments that were done on tribal land.
“Legally, people who currently live on land owned by a tribal authority have no claim to ownership of the land. Only on reasonable grounds does the bank grant such loans which are not traditionally bonded [mortgage loans] and where there is an adequate form of security on the loan,” said Kleynhans.
He said these loans were reviewed “on a case-by-case basis and granted based on low risk and minimal exposure to the bank”.
Meanwhile, Police Minister Nathi Mthethwa confirmed in a written reply to a parliamentary question that the Nkandla residence was declared a national key point on August 4, 2010.
Political Bureau, Sapa
COMMENTS BY SONNY
Crime begets corruption.
Old talents never die.
Not even in the Presidency!
The arms deal lives on.
LETS HOPE THE HIGH COURT'S JUDGEMENT ON THURSDAY NOVEMBER 2012 BRINGS JUSTICE TO ALL