The Investec banking group is poised to succeed where Brett Kebble failed: to sweep up the mess left by the biggest corporate fraud in South African history with a minimum of disclosure and accountability, leaving shareholders to grin and bear it.

The huge scope of the investigation into the Brett Kebble empire became clear this week as details trickled in on a seizure of evidence by the Scorpions on Wednesday. The raids took place under the banner of Scorpions project “Empire K”, which focuses on the fraud carried out in the two main companies controlled by Kebble.

The Scorpions investigation into Brett Kebble’s murder is shifting focus from Glenn Agliotti as the main target to Clinton Nassif, the mining magnate’s security consultant. Nassif’s house in southern Johannesburg was among the premises raided countrywide by Scorpions investigators this week — even though Nassif’s status has been that of cooperating witness.

Swedish anti-corruption authorities are poised to join their counterparts in Britain and Germany in probing allegations that their nationals bribed South Africans in the arms deal. The opening of a third international front will increase pressure on the South African authorities to join the investigative offensive.

Australian John Stratton, a suspect in the Brett Kebble murder case, has launched a pre-emptive strike to prevent his extradition from Australia to stand trial alongside alleged crime boss Glenn “the Landlord” Agliotti. Stratton was a close confidant of Kebble and is widely regarded as the éminence grise behind many of the mining tycoon’s financial schemes.

Astonishing new allegations relating to the ”hoax e-mail” affair and the sacking of former National Intelligence Agency director general Billy Masetlha have emerged from a previously secret affidavit. In it the former spy boss accuses Intelligence Minister Ronnie Kasrils of being the tool of a sinister ”grouping” that was pursuing political objectives with the help of a unit within the Scorpions.

Classified papers filed in Billy Masetlha’s court application to be reinstated as the chief of the National Intelligence Agency (NIA) have exposed details of the agency’s botched surveillance of business-person Saki Macozoma. Masetlha was suspended as director general of the NIA in October 2005 following the Macozoma fiasco.

Details emerging from the German corruption probe into defence and steel conglomerate ThyssenKrupp have thrown dramatic new light on two men named in the very first allegations concerning the South African arms deal. One is Shamin “Chippy” Shaik, former chief of acquisitions for the defence department.

ANC secretary general Kgalema Motlanthe has admitted that Chancellor House — the black economic “empowerment” (BEE) group exposed by the Mail & Guardian last year — is a ruling-party funding vehicle. Motlanthe’s admission was contained in articles on the ANC, business and funding published in the Financial Mail last week. He is quoted as saying that Chancellor House is an “ANC vehicle” whose sole purpose is funding the ANC.

PetroSA is finally taking Imvume to court for defaulting on its Oilgate debt -– but the oil parastatal will let Imvume off the hook for millions of rands in interest owed. Previous attempts by PetroSA to recover the R18-million debt have been feeble. The parastatal justified its soft approach by saying that if Imvume were liquidated “there would be very little proceeds flowing into PetroSA”.