Shaik used Zuma's account
2005-02-25 12:30
Durban - Fraud and corruption accused Schabir Shaik told the Durban High Court on Friday how he helped himself to money from the account of deputy president Jacob Zuma.
The money was donated to Zuma, his long-time friend and the man he served as a financial advisor, by former President Nelson Mandela, the court heard.
The R2m was to be equally divided between Zuma's education trust fund and Development Africa, which would use the funds on a residence for Zulu King Goodwill Zwelithini.
Shaik said the education trust fund was paid R1m, however he had no knowledge of Development Africa.
He said when he saw R1m in Zuma's account, he took R100 000 to sort out his debts and placed R900 000 in a call account to accumulate interest. The money was later used in Shaik's Nkobi group of companies.
Shaik said his relationship with Zuma was of such a nature that he could remove and deposit money into the deputy president's bank account without permission.
Shaik is giving evidence for the fifth day and is expected to complete his testimony later on Friday.
His two charges of corruption and one of fraud includes soliciting an alleged bribe for Zuma from a French arms company Thomson CSF. The State alleges that the bribe of half a million rand a year was an exchange for protection during investigations into arms deal irregularities.
- SAPA