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Treasury and South African Reserve Bank dismissed allegations of “insufficient funds” as fraud

The Treasury and the South African Reserve Bank (SARB) have been dismissed as fraud and have been reported to have lost trillions of Rands of donor funds after being deposited with the Central Bank.

The allegations were filed by businessman and politician Tokyo Sexwale during an interview with eNCA on Sunday night.

In an interview with host JJ Tabane, Sexwale claimed that the billions of dollars deposited at SARB were missing.

The Treasury and the South African Reserve Bank said in a joint statement that the allegations represent a common fraud.

“Over the years, the Treasury and the South African Reserve Bank have received many such demands or promises for billions (and now trillions) of rands or dollars and, from experience, consider them merely fraudulent. The claim that such funds are for valuable purposes such as Covid-19 relief, social grants, grants for free education, etc. is to secure the interests of potential victims. It’s just an empty promise, “said the parties.

The Treasury and Reserve Bank, formerly known as the “White Spiritual Boy Trust,” have been contacted by Sexwales and many others who claim that billions of rands have been stolen from funds established by foreign donors. I did.

“The fund has trillions of dollars, and it is further claimed that one Goodwin Erin Webb was, among other things, a mandate representative in South Africa,” the statement said.

Subsequent SARB investigations confirmed that there was no record of the fund’s existence, and given SARB’s experience and knowledge of this issue and other similar issues, the alleged fund was fraudulent.

“It should be noted that Mr. Sexwale was not the first celebrity to act on behalf of Mr. Webb or an unknown donor for such funding. Such a request has been for years since 2016. You can go back in time.

“SARB can confirm that all cross-border transactions are reported to SARB by commercial banks appointed as authorized dealers of foreign exchange transactions. SARB is evidence supporting the existence of such funds. I concluded that there was no such thing. “

The Treasury and the South African Reserve Bank have stated that if Sexwale believes otherwise, he and his unknown sponsors are responsible for providing independent written proof of the existence and / or transfer of such funds. ..

The two must also provide an actual ID of such a “donor” and a certified copy of their citizenship, in line with the usual FICA-type anti-money laundering requirements.

“The allegations of theft of non-existent funds are unjustified,” said the Treasury and the South African Reserve Bank.


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Treasury and South African Reserve Bank dismissed allegations of “insufficient funds” as fraud

Source link Treasury and South African Reserve Bank dismissed allegations of “insufficient funds” as fraud

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