Judgement will be passed in the Durban High Court on Tuesday on the state’s bid to seize R34-million in assets from convicted fraudster Schabir Shaik, South African Broadcasting Corporation news reported.
Judge Hilary Squires reserved his ruling on the matter on January 19. A written judgement will be handed down and will inform the parties concerned accordingly.
The state believes about R34-million was involved in Shaik’s ”generally corrupt relationship” with former deputy president Jacob Zuma.
The National Prosecuting Authority’s application sought a warrant giving the state control over Shaik’s assets in the arms-manufacturing company that profited from the multibillion-rand arms deal.
In the application filed with the court, the state requests that an alleged R250 000 bribe paid to Zuma by French arms manufacturer Thales also be recovered from Shaik.
The Durban businessman was found guilty in 2005 on two charges of corruption and one of fraud, and sentenced to an effective 15 years’ imprisonment. His appeal will be heard by the Supreme Court of Appeal later this year.
Shortly after Squires convicted Shaik, the asset forfeiture unit indicated it wanted to attach Shaik’s assets in accordance with the Organised Crime Prevention Act.
Squires agreed that the assets be placed in curatorship until he had heard arguments.
The state focused on four benefits it believes Shaik and his Nkobi Group obtained as a result of his relationship with Zuma. These are:
- shares to the value of R21-million in African Defence Systems (ADS);
- ADS dividends to the value of R12,7-million;
- R500 000 received by Nkobi Investments for the sale of its shares in Thint Holdings to Thales; and
- R250 000 paid by Thales to Kobitech as a ”bribe” for Zuma.
According to the state, there is an ”overwhelming possibility” that Shaik’s relationship with Zuma was the main reason for Thales to do business with Shaik. — Sapa