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Dormant company used to increase Bosasa's costs, state capture inquiry hears

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Dormant company used to increase Bosasa's costs, state capture inquiry hears | CannyMaphanga

This comes as the commission of inquiry delves into alleged state capture by shining a light on the Bosasa group which has been embroiled in countless allegations of corruption involving senior government officials.

Venter explained how the group used the dormant company to address the assessed loss by Miotto through issuing invoices to Bosasa at an inflated rate."TRM then invoices Miotto which is invoicing at a higher inflated rate than TRM for the purposes of a commission which is shared?" advocate Refilwe Molefe asked the witness.Venter further explained how an auditor would not be able to pick this up as the payments were documented in the form of an invoice.

 

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