State Capture inc.

2017-10-01 06:00
Clive Angel

Clive Angel

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Former Trillian Capital Partners executive Bianca Goodson details in her affidavit how the company allegedly milked the state.

Here is the case against some of her former colleagues:


Goodson alleges she was recruited by Angel, the executive director of Integrated Capital Management and a chartered accountant.

Then, “on 2 February 2016, Angel called me asking me to come to the office to sign a few documents. I was home and traffic would make it impractical to drive to Melrose at that time.

"Angel said that invoices for our rented offices need signature for payment. I emailed through a jpeg of my signature. I later realised that the signature I sent to Angel was used on invoices and formal letters without my consent,” she said.

“Angel knocked my confidence whenever I posed a difficult question, saying that I was not cut out for my responsibilities.”

In response, Trillian told amaBhungane that it “is not aware of any correspondence sent to external parties without the full knowledge and consent of the executives concerned”.


A founding member of Integrated Capital Management, Shane is also a director of UK investment group Integrated Asset Management plc.

READ: ICM right of reply

He was also a non-executive director of Transnet, another state-owned entity Trillian Capital Partners milked for at least R112m.

“It has been mentioned in the media that Shane was not involved in TCP [Trillian Capital Partners] operations,” Goodson writes.

“I can confirm that Shane was operationally involved in management decisions, strategy compilation and dispute resolution within TCP.”


Essa, Goodson states, introduced her to key Eskom executives including Abram Masango, group executive of transmission, and Matshela Koko, group executive for power generation, whom she met to “discuss the barriers TMC and E-gateway were experiencing with Eskom”.

“Essa consistently gave me assurance that if I encountered any resistance in doing my work, he would remove it.”


Goodson states Pamensky, at the time an Eskom board member which Trillian allegedly milked Eskom for hundreds of millions of rand, “was introduced to me as the CEO of Trillian Capital Properties”.

“We shared offices in Melrose Arch and in those early days, Pamensky attended TCP management meetings,” she wrote.

“On 21 January 2016, Wood called a meeting for all TCP senior management.

"The meeting was held at the offices in Melrose Arch and attendees included Pamensky, [Cooperative Governance Minister Des van Rooyen’s advisor Mohamed] Bobat and others.

"Before the meeting commenced, Pamensky was discussing work on the Transnet property portfolio with [TCP chief executive Eric] Wood."


“Essa had arranged for me to meet Matshela on 10 February 2016 to discuss issues that I was encountering with McKinsey.

“Once the meeting was confirmed, I was instructed by Angel on behalf of Essa to convey a message to Matshela articulating Trillian’s request that invoices are submitted to Eskom directly and paid directly to Trillian (not via payment from McKinsey).”


“Although Bobat was employed at Cogta during my tenure at TMC, he was still highly influential to the operations of TMC and Regiments,” she wrote, adding that Bobat attended meetings and took decisions.

“In the week of 8 December 2015, I was informed of Bobat’s employment at Treasury and very shortly after, his position at Cogta.”

Trillian said Bobat “has never been employed by or consulted to Trillian”.


“I received an email … that contained an invoice and cover letter dated 29 January 2016, addressed to Anoj Singh, CFO of Eskom,” Goodson writes.

“The email was sent to Singh on 3 February 2016.

"The invoice was for R30.6m for work done on the corporate plan. I did not sign that letter nor did I compile the invoice.

"However, my electronic signature was included on the invoice – on 2 February 2016.”


“In the first week of January 2016, I received a call from Angel saying that TMC will be working at Cogta and supporting Bobat.

“At that meeting, I was instructed to compile a business profile for TMC that would be presented to the minister ...

"I was instructed to present capabilities for an organisation that had no prior history and for work not yet identified as a need.

"Regardless, the minister appeared satisfied with our presentation and Bobat started the process of compiling a proposal.

“I realised that securing the work at Cogta had nothing to do with TMC’s history or lack of employees to do the work”.

Trillian denies doing any work for Cogta, “directly or indirectly”.

Read more on:    trillian capital partners

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