DA welcomes charges against ANC deployed Tau and Makhubo
10 December 2018
The DA supports City of Johannesburg Executive Mayor, Herman Mashaba, who today laid fraud, corruption, money laundering and racketeering charges against former Johannesburg Mayor Parks Tau and former MMC for Finance, Geoff Makhubo. This sends a strong message to those who use the people’s money to line their pockets while the people suffer.
Tau and Makhubo allegedly orchestrated a windfall of at least R30 million for Makhubo by letting him act as a broker for Regiments Fund Managers, which gave them unrestricted access to lucrative contracts within the City.
With the help of Makhubo and Tau’s interference, Regiments was allegedly able to facilitate a R290 million loan to Denel while receiving kickbacks of around R3.4 million from the beleaguered parastatal.
This matter is being referred to the Zondo Commission by the DA, to form part of the inquiry into the State Capture project which saw billions of rands of the people’s money lost through looting and mismanagement.