R200m from sale of shares went to Kebbles account SARS
Publish date: 03 March 2006
Issue Number: 1533
Diary: Legalbrief Today
Category: Corruption
According to a Business Day report, SARS claims that more than R200m was paid into Brett Kebbles personal bank account by companies that benefited from the unauthorised sale of Randgold Resources shares.
It says the payments, made by stockbroker T-Sec and shelf company Tuscan Mood 1224 between 2002 and 2005, were outlined in documents submitted this week to Kebbles estate at the Masters Office in Cape Town by SARS. The report says this seems to confirm that Kebble personally received money from the sale of the stake belonging to Randgold & Exploration, of which he was CE until August, shortly before his death. Randgold & Exploration held 21.5-million shares in the separate Randgold Resources until 2004, after which they were sold without shareholder approval. There is now a scramble to trace the proceeds of the sale. Tracing the missing money from the Randgold Resources sale is only one leg of a larger forensic audit that seeks to unravel the shenanigans inside Kebbles former companies. The audit is set to be finalised this month. Full Business Day report
