The Democratic Alliance (DA) said it would lay charges against African National Congress (ANC) veteran Tony Yengeni on Monday after Sunday newspapers revealed that he accepted six company directorships in apparent contravention of the Companies Act.
The Act disqualifies anybody who was jailed for theft, fraud, forgery or perjury from being a company director, unless a high court sets aside the disqualification.
Rapport and City Press reported on Sunday that Yengeni was a director of six companies despite his four-year jail sentence for fraud linked to South Africa’s multibillion-rand arms deal. He served only five months.
DA MP Tim Harris said he would lay a charge against Yengeni at Cape Town Central police station later on Monday.
“If this is correct, then we believe Mr Yengeni would have breached section 218 of the Companies Act and will ask that this apparent contravention be investigated,” Harris said.
The Sunday papers said the directorships held by Yengeni included that of two mining companies.
City Press quoted the former ANC chief whip as spurning the notion that he had to ask the courts for special permission to serve as a company director.
“What has the high court to do with my life,” he reportedly asked. “Maybe the law stipulates certain things. But the high court … I don’t think they feature. I don’t have to ask permission from them to deal with my life.”
Yengeni’s prison sentence prevented him from becoming an MP last year, but he has subsequently been appointed to set up the ANC’s political school. — Sapa