Deputy President Jacob Zuma owes fraud and corruption accused Schabir Shaik R3,2-million, or over half the value of his pension, the Durban High Court heard on Monday.
Shaik gave R1,2-million to Zuma and forensic auditor Johann van der Walt told the court an equal amount, if not more, would have to paid in interest if a revolving loan agreement between the two parties was taken into account.
Two weeks ago the defence produced what it said was a five-year revolving loan agreement of R2-million between Shaik and Zuma. It made provision for interest calculated at prime, plus five percent.
Defence advocate Francois van Zyl said Shaik did not want the interest because it went against his principles as a Muslim, and he had agreed to donate the money to charity.
The state alleges that R1,2-million used to fund Zuma’s expensive lifestyle was indicative of the ”generally corrupt relationship” between the two.
The state alleges the money was an attempt by Shaik to get the deputy president to use his influence to get the Nkobi Group a slice of government’s multibillion-rand arms deal.
The court also heard that the Nkobi Group had a charitable trust. Four payments made from this trust were to Zuma and were later claimed as a tax deduction.
Shaik is also accused of soliciting a R500 000 per annum bribe for Zuma in exchange for protection during investigation into arms deals irregularities.
Cross examination of Van der Walt on his Scorpions’ forensic report, detailing the books of Shaik and Nkobi as well as Zuma’s finances, ended on Monday morning.
Prosecutor Billy Downer was re-examining Van der Walt. Earlier, Van Zyl questioned the independence of Van der Walt’s forensic audit report, saying it was biased in favour of the state.
Van der Walt responded that any other independent investigator would have come to the same conclusion.
The trial continues. – Sapa