Oscar’s family business in price-fixing scandal

2015-01-18 10:56
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All you need to know: State can appeal Pistorius conviction

2014-12-10 10:52

Judge Thokozile Masipa has ruled prosecutors can appeal Oscar Pistorius's conviction. However, Masipa dismissed the State’s bid to appeal his sentencing. Here's everything you need to know.WATCH

Cape Town - An agriculture-related company started by Oscar Pistorius's grandfather – Hendrik Pistorius & Co – has been charged by the Competition Commission for alleged price-fixing since 1995.

According to the Sunday Independent, the company, which is also involved in other industries including property development, mining and tourism, is the bedrock of the family's wealth and is run by Pistorius's uncle Leo Pistorius.

The newspaper reports that the commission has filed an application with the Competition Trbunal requesting the company be fined a penalty of 10% of its turnover over the 13-year period.

The commission states the company has contravened the Competition Act by entering into price-fixing agreements with suppliers and sellers who distribute the product, aglime, of which the Pistorius family is the largest producer of it in the county.

In October last year, Judge Thokozile Masipa convicted Oscar Pistorius of the lesser charge of culpable homicide and sentenced him to a five-year prison term. He could be released from prison to be held under house arrest after 10 months, reported News24 at the time.

Pistorius fatally shot his girlfriend Reeva Steenkamp in his home on Valentine's Day in 2013. He said he thought a dangerous intruder was in the house; prosecutors allege he killed his girlfriend after an argument.

Wealthy family

According to media reports late last year, Oscar's trial left him financial ruined but his family is in fact exceptionally wealthy.

At the time, the UK's Telegraph reported that the athlete, estranged from his father, had been living for 18 months with his uncle, 62-year-old businessman Arnold, in his three-storey mansion in the upmarket suburb of Waterkloof in Pretoria.

Arnold Pistorius, along with his brothers Henke – Oscar's father – Theo and Leo, are thought to have been involved in 107 different companies over the years, in mining, tourism and property.

The family portfolio includes a private game reserve with breeding programmes for sable antelope and buffalo; a ski lodge in the Austrian resort of Hochkrimml; a mine in Limpopo, and residential and leisure property developments in Mozambique and South Africa.

At the head of the family of entrepreneurs is grandfather Hendrik, who founded an agricultural limestone supply company, H Pistorius en Kie, in 1944.

On its website, the company boasts that it is the oldest supplier of agricultural lime in Africa, and one of the largest in South Africa.

Hendrik, 95, remains the company chairperson.
Read more on:    oscar pistorius

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