News24

Shaik still a company director

2011-03-27 12:03

Johannesburg - Convicted fraudster Schabir Shaik is still listed as a director of a company that was involved in SA's arms deal, despite this being in contravention of the Companies Act, the Sunday Times reported.

He is listed as a director of KobiProp, previously a subsidiary of the Nkobi Group, which was fined for corruption during Shaik's fraud and corruption trial, which ended in 2005.

According to the Companies Act someone found guilty of theft, fraud, forgery, uttering a forged document or corruption cannot hold a directorship.

Shaik is the sole "active" director of KobiProp, according to the Companies and Intellectual Property Registration Office.

"As far as I am concerned I had signed all the necessary company resignation documents and would have expected that between the company's internal accountants and auditors, this secretarial matter would have been resolved," Shaik was quoted saying.

Shaik's lawyer Reeves Parsee told the Sunday Times: "He (Shaik) said he had given his accountants instructions to resign himself from KobiProp. He doesn't know why this hasn't been reflected."

Comments
  • Thingamebob - 2011-03-27 12:20

    Zuma is so terrified of Sheik and his brother that he will do nothing. The Indians have the Zulu by the short and curlies and are going to make him jump around like a little boy. Zuma a president??? he's a puppet to Sheik and his brother.

      Rapier - 2011-03-27 13:21

      Not being picky @Thingamebob...it is Shaik - not Sheik (The leader of an Arab village or family) - cos that would make him something special, and NONE of us want that do we? :-)

      Luckybugger - 2011-03-27 13:39

      No it's Shreck

      Madelane - 2011-03-27 15:37

      ALL politicians have been bought and sold by corrupt corporates worldwide. The trading of these fools should listed on the stock exchange it is so common a practice by the dishonest.

      A THEIST - 2011-03-28 07:32

      POOR BEEKA ! SHAIK NEEDS TAKE DOWN !

  • maggielou - 2011-03-27 12:25

    ... and Nkobi still coins it with the driver's licences that has to be renewed every 5 years?? Absolute disgrace. Guess how they won the tender ......

      BigMoose - 2011-03-27 12:59

      Ask Mac Maharaj.

      Heks - 2011-03-27 14:50

      Big Mouse... Is Mac Maharaj another Sheik??????????

  • YES - 2011-03-27 12:30

    Let's accept his explanation> Afterall, isn't what a reasonable man would do under the circumstances? My only gripe (and this is what the Sunday Times report is lacking about) is when the man continues to derive financial benefits much against the dictates of the law. To me, the report is neither here or there accept to condemn for sensationalisation.

      YES - 2011-03-27 13:56

      I hold no brief for Shaik or the ANC for that matter. But it's sensationalism to report about the man's involvement with the company yet fail/neglect to mention if he is still financial benefitting from proceeds thereof. There is no prima facie case when there is no concrete proof that Shaik is benefitting from the directorship of the company and therefore matter is unprosecutable. I am a lawyer and should know better. If Shaik has indeed uinstructed his lawyer or accounted to do the onus and they failed in their duty to carry-out the instruction, then anybody can take up the matter with relevant statutory body to institute discplinary inquiry against the individuals concerned.

  • Redeye - 2011-03-27 12:32

    Sounds very similar to Malema's instruction to his attorneys to remove his Directorship which wasnt actioned too.Swear these guys have ahandbook on what to say in certain situations.Maybe you can get your own copy with the key to heaven

  • bill - 2011-03-27 12:51

    If you are a director, you direct things and you take full responsibility for the out-come, It is NOT good enough to blame the underlings the buck stops with YOU so Shiek be a man and stand up to your responsibilities and TAKE THE BLAME, for GODS sake apologise for some of the stuff that you have done, and dont be such an arrogent sh*t

  • Odwa - 2011-03-27 13:11

    Schabir Shaik aka the convicted fraudster,i like that..

  • Slapper - 2011-03-27 13:12

    In ANC "culture" this is not a big deal. If oyu can get away with murder, whats wrong with avoiding technicalities and dodging a little thig lie this.

  • camp.j - 2011-03-27 13:19

    Schabir Shaik is a LIAR! He is a scurge to South Africa and the sooner he 'vanishes' the better. A complete embarrassment along with Jacob Zuma!

      Heks - 2011-03-27 14:53

      Liar Liar, I wish your pants were on fire!

  • Ldn Saffa - 2011-03-27 13:47

    'According to the Companies Act someone found guilty of theft, fraud, forgery, uttering a forged document or corruption cannot hold a directorship.' However these are perfect credentials if one is considering a career with the ANC.

  • Thandi - 2011-03-27 14:22

    Do you really think the like of Zuma, Shaik, Malema or any of that mob care one little iota if they are contravening any laws - certainly not as long as we continue to have such a disfunctional police force and legal system, with no-one having the balls to stand up to them. Viva AnarchyNepotismCorruption.

  • Samoesa - 2011-03-27 14:37

    More sensationalism by the Sunday Times. The fact that his name still appears as director could well be an administrative oversight. Nobody even knows if he is benefiting financially from this. As for the normal racial stereotyping from the trolls who have nothing better to do than write mirror their prejudice here - GET STUFFED :P

      Buzzbar - 2011-03-27 22:43

      So what position do you hold at Nkobi group ?

      Fredster69 - 2011-03-28 07:31

      His name still appears almost 2 years after his conviction, and you call it an administrative oversight...Rubbish!! As for financial benefits...I am sure that if someone investigates, they will find that he DOES...any blind man can see it.

  • shylady777 - 2011-03-28 07:29

    It is easy to solve this....Has he received payouts since 2005? If he has, then his innocent report that he filed the papers but he does not know why it has not happened yet does not gel

  • A THEIST - 2011-03-28 07:30

    SHAIK HAS ZUME BY THE VELCRO !

  • Michele Holland - 2011-03-28 08:07

    Why is this idiot not in prison?

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