An accountant who was with the auditing company that did the books of Schabir Shaik’s Nkobi group of companies has taken the stand in the Durban High Court.
Anthony Gibb was with David Strachan and Taylor when they did Nkobi’s books in 1999. Gibb was the second witness to take the stand on Friday.
He was preceded by the former credit manager of Absa private bank, Ian Mcleod.
Mcleod told the court how he was repeatedly overruled when he tried to turn down the account applications of Schabir Shaik and Deputy President Jacob Zuma.
Shaik has pleaded not guilty to two charges of fraud and one of corruption.
Mcleod said he wrote on both application forms that he could not recommend the clients because they had high risk ratings. He said he felt that in future the bank would suffer losses.
However, decisions were made at Absa head office to accept Zuma and Shaik, who was known to them to be Zuma’s financial adviser.
Mcleod said there was a ”take one, take both” policy at the private bank.
On Thursday, three witnesses from Absa testified that they had no knowledge of a revolving loan agreement between Zuma and Shaik. Mcleod said if they had known it would have been ”significantly negative” for Zuma.
Shaik has been accused of placing Zuma on ”retainer” to secure his influence to Shaik’s advantage. The defence says R1,2-million given to Zuma was part of a revolving credit agreement of R2-million between the two.
Under cross-examination, Mcleod admitted that one of the reasons Zuma was accepted was because of his influence. He said Absa wanted to make inroads into provincial government accounts.
Absa was also interested in increasing the black economic empowerment companies on its books.
The state also alleges that he solicited a R500 000-a-year bribe for Zuma in exchange for protection during investigations into arms-deal irregularities.
The trial continues. — Sapa