Cell C ‘defrauded’ of R357m over eight years - The Mail & Guardian

information technology executive has highlighted the telecommunications company’s financial woes after it posted a R5.5-billion annual loss.

Documents from the National Prosecuting Authority show how, from January 2012 to January 2020, Mohamed Adamjee allegedly orchestrated 83 transactions to defraud Cell C and worked with Manuel Teixeira, the former sales director of technology company Cornastone. A company owned by Adamjee, Techno Genius, was used to allegedly funnel what the state asserts were ill-gotten monetary gains from Cell C, with the NPA document showing how his family members also supposedly benefited from the loot. Bond and loan repayments, a Toyota Hilux, a Yamaha superbike, and cash gifts to relatives were some of the benefits Adamjee apparently bestowed on family and close friends.

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