Leaked messages show how a little-known businessman, Lawrence Mulaudzi, gained an inside track with the PIC and its then-CEO, Dan Matjila, setting his sights on becoming a billionaire with pensioners’ money.
But for the CEO of the PIC to actively solicit donations for the ANC from his clients was going one step further. “We have bought a table accommodating ten delegates for R400 000,00 with Sakhumnotho,” Mulaudzi assured him. “We still have a seat if there’s someone who wishes to join us.” This was not the first time the PIC boss had called on Mulaudzi for a financial favour.
He added in a second message: “[Y]our insinuations are hopelessly far fetched… I feel this is simply an unnecessary witchhunt which I am really not interested in participating in.” But Investar Connect Holdings was a name we had seen before in the share registers of Mulaudzi’s companies. These records show that in two of his PIC-funded deals — Tosaco and Kefolile Health — a small parcel of shares was given to Investar Connect Holdings. Together the shares were worth roughly R24-million.
But there was a problem: the transfer from the PIC was two weeks late. And Coast 2 Coast, the company that owned Bounty Brands, was panicking.
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