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SA’s Financial Services Board chief bust allegedly accepting R2 million bribe [video]
Posted by on Jun 20th, 2014

And in this weeks corruption news…Dawood Seedat, the chief financial officer of the SA government’s financial regulatory agency, the Financial Services Board, has allegedly been bust accepting a R2 million cash bribe on video. Seedat resigned last week amid corruption allegations and the Cape Times is running the story today on the front page along with screenshots of the video. It’s alleged that Seedat was paid R12 million after threatening to close down African Cash And Carry.

The video below was apparently filmed in Midrand and shows the alleged handover of R2 million in cash to Seedat.

The Financial Services Board (FSB) is the government of South Africa financial regulatory agency responsible for the non-banking financial services industry in South Africa. It is an independent body that supervises and regulates the financial services industry in the public interest. This includes the regulation of the biggest stock exchange in Africa the Johannesburg Stock Exchange.

“The chief financial officer of the Financial Services Board (FSB) resigned a week after The Star questioned him about allegations that he demanded millions of rand in bribes. Africa Cash and Carry chief executive Edrees Ahmed Hathurani allegedly paid FSB chief financial officer Dawood Seedat R12 million after Seedat allegedly threatened to close down Africa Cash and Carry through an SA Revenue Service (Sars) audit ” [iol]

Ya hey…wonder if he made jokes about carrying the cash from Cash and Carry. Ok fine i’ll go sit in the corner.

June 06, 2014 at 7:37 am

Jeez. Proper bust!

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