EOH: The suspicious transactions inside the company | IOL Business Report

EOH holdings tumbled on the JSE yesterday after an investigation by ENSafrica revealed the rot that involved a series of suspicious transactions by a group of individuals which the information and technology group said had been reported to the Hawks.

Van Coller said those implicated excluded the three directors who resigned from the group on Monday. “Clearly, today is not a great day. It is fairly devastating when you join a business and then you have to go through the process we have gone through over the last five months. I wouldn’t wish this on my worst enemies. It is disappointing that few people take so much from so many.

The suspicious transactions arising from the investigation have since been reported to the Financial Intelligence Centre in terms of section 29 of the FIC Act. Non-executive director Pumeza Bam, chief executive of EOH subsidiary Nextec Zunaid Mayet and chief executive of EOH’s ICT business, Rob Godlonton, tendered their resignations less than 24 hours before the release of the graft report.

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Business Maverick: A R1.2bn pot of toxic soup at EOHEight people. That’s all. Eight people out of EOH’s staff of 11,500 put the entire organisation at risk through a systematic process of fraud, corruption and bribery that saw R1.2bn of irregular payments flow out of the company between 2014 and 2017. The company believes it has stemmed the rot.
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