The National Prosecuting Authority has launched an investigation into the alleged misappropriation of millions of rands from JCI Limited and Randgold & Exploration.
This follows the publication in recent weeks of the results of forensic investigations into a series of incidents of corporate fraud in both companies that led to combined shareholder losses of more than R1-billion.
Peter Gray, who is CEO of both companies, said recently that the “sheer audacity and scope of the fraud at JCI was breathtaking”.
He succeeded Kebble who was shot dead behind the steering wheel of his car in September last year. An extensive police investigation into the killing is continuing.
Gray said claims were being formulated against Kebble’s estate and others who had benefited from the misappropriation of assets.
Gray said on Thursday that a senior team from the Scorpions had been briefed on the nature of the fraudulent activities that had benefited certain former directors and third parties.
“We have told them what we know to be true about certain transactions and the irregular distribution of corporate funds. We have also outlined our suspicions.”
The Scorpions would have full access to all documentation relating to the investigations conducted by independent forensic investigators at both companies.
He said the forensic investigations were ongoing at both companies.
New information was continuing to flow from liquidation enquiries, from former executives who were now assisting with the investigation and from external sources that were coming forward.
“We will work closely with the prosecuting authority to ensure that those who have betrayed the trust of shareholders are charged,” said Gray. – I-Net Bridge