No comment on Sokutu's remarks

By Drum Digital
17 August 2014

Tom Winterboer, the curator handling African Bank Investments Limited, could not immediately comment about remarks made by the bank's former chief risk officer Tami Sokutu.

Tom Winterboer, the curator handling African Bank Investments Limited (Abil), could not immediately comment on Sunday about remarks made by the bank's former chief risk officer Tami Sokutu.

"We respect your deadlines but cannot confirm when we'll be able to submit a response as the curator is meeting with various stakeholders," Vuma Reputation Management, who is assisting Winterboer with corporate communications, said in an email to Sapa on Sunday.

The Sunday Times quoted Sokutu as saying: "F*** them, f*** them" in relation to people who had obtained loans but could not afford to repay them.These people had been listed as bad credit risks.

He said he lived lavishly with "no regrets" and that borrowers should not have taken loans if they knew they could not repay them.

According to the newspaper, Sokutu made more than R50 million in share options and R35 million in salary and bonuses.

Sokutu joined the bank in 2002 and was appointed to the board a year later. He has been on sick leave since September, and was not involved in the bank when it collapsed.

Reserve Bank governor Gill Marcus placed it under curatorship last week.

The newspaper reported that Sokutu showed no signs of remorse for the splurge of lending.

He apparently boasted to the newspaper about how he made his millions, globetrotting, his six cars and various houses.

Sokutu said he need not ever work again, and was not worried about Abil's collapse because he was more focused on his upcoming trip to play golf in Scotland.

-SAPA

Find Love!

Men
Women