OWN CORRESPONDENT, Cape Town | Tuesday
DISGRACED Cape Metropolitan Council (CMC) mayor William Bantom, who was ousted from his post last month for allegedly watching pornography on the Internet, found a legal loophole to pay himself a “golden handshake” during his final days in office, the Cape Argus newspaper has reported.
The CMC remains tightlipped about exactly how much money will accrue to Bantom, but for every rand he contributes to a pension fund, the council will be obliged to pay in R2,40 of ratepayers’ money.
For a R100 _000 outlay by Bantom, the CMC will have to fork out R240 _000, giving the former mayor a gross pension payout of at least R340 _000, the newspaper said.
Bantom resigned on September 12 after being confronted by the New National Party over his behaviour, but his resignation as mayor of the CMC was received only two days later at 5pm.
CMC chief executive officer Stewart Fisher formally passed on the resignation to the executive committee on September 15. This three-day time difference allowed Bantom to apply to join the Municipal Councillors Pension Fund and buy back (or pay) his arrears.
Fisher said that until it was confirmed that the fund would accept Bantom’s arrear payments, the CMC could not discuss any figures.
One councillor said Bantom would probably take a bank loan for the cash he needs to pay in and would, within weeks, be able to repay the money and pick up a bonus without spending a cent of his own.
“All Bantom will have to do to get the loan is show a letter, which details his pension payout, to the bank and he will get the money he needs,” the councillor said.