Sunday, October 25, 2020

Isaac Kgosi given shares in other companies

Fresh information passed to the Sunday Standard has linked Directorate of intelligence and Security Services (DISS) Director General, Isaac Kgosi to other companies owned by Choppies Directors Ramachandran Ottappath and Farouk Ismail.

 

A statement by Ottappath to the Directorate on Corruption and Economic Crime (DCEC) has revealed that besides shares he was given in Choppies, he was in 2009 also given shares in RBV (PTY) Ltd another company owned by the two Choppies directors. In both cases, Kgosi did not buy the shares upfront, instead an arrangement was made that he should pay for the shares from the dividends. It has also emerged that in January 2011, a payment of P300 000 was made to Silver Shadows a company owned by Kgosi from the account of Leviathan (PTY) Ltd a company owned by Ottapath and Ismail. According to the statement made by Ottapath, “there was no documentation generated in relation to this loan arrangement. This money was lent on a gentleman’s agreement basis, on the understanding that Mr Kgosi would pay back when he could from his future dividends. At the time of DCEC investigations against Kgosi in 2012, Kgosi had not paid the money back.

 

According to the statement made by Ottapath and witnessesed by Sadique Kebonang, now assistant Minister, Kgosi received P270, 586.00 in dividends from Choppies in February 2010,“shortly afterwards, 75% of this amount was paid back to Mr Ismail and myself. “the other dividend payment was made to Mr Kgosi was for P318 681.00 in November 2010. “shortly afterwards, 75% of this amount was paid back to Mr Ismail and myself.“

 

In June 2012, Kgosi received P 28,333.00 from RBV (pty) Ltd which according to Mr Ottapath was dividend payment from the company. The two other directors of RBV, however did not receive any dividend payment and according to Ottapath, “on that occassion I instructed Mr Little, the accountant for Choppies Enterprises Limited and the accountant for Silver Shadows  that no payment for Mr Ismail or myself should be made on account of the small size of the dividend payment.

 

In October 2011 another payment of P96, 757.00 was made from Choppies Enterprises to Silver Shadows. “This was extra dividend to Mr Kgosi due to the abolition of the Additional Company Tax by Government in June 2011”, stated Ottapath.

 

He futher revealed that in the same month, October 2011, I attended the wedding of Mr Kgosi’s daughter at Sentlhane Farm. As is customery practice I donated some table wines towards the wedding. I have previously made such donations to ther people who had invited me to their festivities and/or events.”

RELATED STORIES

Read this week's paper

Paul kicked out of Zebras camp

Under 20 boys national team coach, Keitumetse Pio Paul has been relieved of his duties as assistant coach.  He...