Shaik: State has to wait
2006-01-19 21:13
Durban - Judgment was reserved on Thursday in the State's bid to confiscate about R34m in assets from Durban businessman Schabir Shaik, the SABC reported.
The State believes about R34m was involved in Shaik's "generally corrupt relationship" with former deputy president Jacob Zuma.
The asset forfeiture unit filed an application to this effect in Durban High Court on Wednesday.
Judge Hilary Squires said he would hand down judgment at some stage, but did not indicate when he would do so.
A written judgment would be handed down and would inform the parties concerned accordingly.
National prosecuting authority spokesperson Makhosini Nkosi said he did not know what happened in court on Thursday and that he did not expect to get an update.
The NPA's application sought a warrant giving the State control over Shaik's assets in the arms manufacturing company that profited from the multimillion-rand arms deal.
Appeal to be heard this year
In the application filed with the court, the State requests that an alleged R250 000 bribe paid to Zuma by French arms manufacturer Thales also be recovered from Shaik.
The Durban businessman was last year found guilty on two charges of corruption and one of fraud, and sentenced to an effective 15 years' imprisonment.
His appeal will be heard by the Supreme Court of Appeal later this year.
Shortly after Squires convicted Shaik, the AFU indicated it wanted to attach Shaik's assets in accordance with the Organised Crime Prevention Act.
Squires agreed that the assets be placed in curatorship until he had heard arguments.
The State focused on four benefits it believed Shaik and his Nkobi Group obtained as a result of his relationship with Zuma.
These were:
shares to the value of R21m in African Defence Systems (ADS);
ADS dividends to the value of R12.7m;
R500 000 received by Nkobi Investments for the sale of its shares in Thint Holdings to Thales; and
R250 000 paid by Thales to Kobitech as a "bribe" for Zuma.
The State will have to convince Squires of a link between Shaik's relationship with Zuma and his obtaining of these benefits.
According to the State, there is an "overwhelming possibility" that Shaik's relationship with Zuma was the main reason for Thales to do business with Shaik.
- SAPA