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AFU to help Eskom recoup nearly R4bn from former execs, board members

Last week, the Special Investigating unit and power company went to the High Court in Pretoria to fight for the funds said to be looted by ex-officials and the Gutpa family.

FILE: Former Eskom acting CEO Matshela Koko testifying before the Eskom parliamentary inquiry into state capture on 24 January 2018. Picture: Cindy Archillies/EWN

CAPE TOWN – Eskom is working with the Asset Forfeiture Unit to try to recover nearly R4 billion from former executives and board members.

Last week, the Special Investigating Unit and power company went to the High Court in Pretoria to fight for the funds said to be looted by ex-officials and the Gutpa family.

Eskom’s boss Andre de Ruyter addressed the matter at a Cape Town Press Club Gathering on Tuesday.

De Ruyter said Eskom might not be able to recover the whole R3.8 billion. But he said the company could not sit around when it was clearly defrauded.

“Will we be able to recover the R3 billion? I suspect a significant amount of money has already been spent. But on the other can we as South Africans sit back and let this go?”

The Eskom board members and executives are accused of diverting about R3.8 billion from Eskom to help the Guptas and their associates to acquire Optimum Coal, which supplied the Hendrina power station.

De Ruyter said the company would now be going after those implicated to prevent them from spending any money or ill-gotten gains.

“We are working with, among others, the Asset Forfeiture Unit and our own legal advisors.”

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