A fraud scam to the tune of R357.3‑million allegedly from a “syndicate” led by a former Cell C information technology executive has highlighted the telecommunications company’s financial woes after it posted a R5.5-billion annual loss.
Documents from the National Prosecuting Authority (NPA) show how, from January 2012 to January 2020, Mohamed Adamjee allegedly orchestrated 83 transactions to defraud Cell C and worked with Manuel Teixeira, the former sales director of technology company Cornastone.
A company owned by Adamjee, Techno Genius, was used to allegedly funnel what the state asserts were ill-gotten monetary gains from Cell C, with the NPA document showing how his family members also supposedly benefited from the loot.
Bond and loan repayments, a Toyota Hilux, a Yamaha superbike, and cash gifts to relatives were some of the benefits Adamjee apparently bestowed on family and close friends.
Subscribe to the Mail & Guardian and unlock this story
There’s a lot more to it and we don’t want you to miss out
And right now, you can get a year’s access to all of our journalism, on any device, for just R500, that’s two-thirds off of our usual price. You can subscribe to the Mail & Guardian at this link.
If you have a current subscription, please login here.