You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

SA seeks extradition of former Eskom contractor

Who’s been implicated in a fraudulent deal with the state power company.
Image: Waldo Swiegers/Bloomberg

South African prosecutors said they are seeking the extradition of a British national who’s been implicated in a fraudulent deal with the state power company.

Michael Lomas appeared in the Westminister Magistrates Court on Thursday, was granted bail of 100 000 pounds ($138 880) and submitted additional surety of 250 000 pounds, the National Prosecuting Authority’s investigating directorate said in an emailed statement. He’s due to return to court on May 20.

Moneyweb Insider INSIDERGOLD

Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.

Choose an option:

R63 per month
R630 per year SAVE R126

You will be redirected to a checkout page.
To view all features and options, click here.

A monthly subscription is charged pro rata, based on the day of purchase. This is non-refundable and includes a R5 once-off sign-up fee.
A yearly subscription is refundable within 14 days of purchase and includes a 365-day membership.

Click here for more information.

Lomas’s arrest and court appearance emanated from months of talks with the UK authorities about a fraud and corruption case relating to Eskom’s payment of R745 million ($52 million) to Tubular Construction Projects, which worked on its new Kusile power plant, according to the directorate. An escalation clause in the contract exposed the utility to a R1.4 billion liability, it said.

Lomas has been indicted together with four suspects, including two former Eskom executives, who were arrested in December 2019 and are next due to appear in court on June 1. The UK courts will decide whether Lomas has a case to answer in South Africa.

© 2021 Bloomberg

COMMENTS   5

Sort by:
  • Oldest first
  • Newest first
  • Top voted

You must be signed in to comment.

SIGN IN SIGN UP

The infamous and colossal Arms Deal corruption was swept under the rug. The message of ‘it’s a free for all’ from the ruling klepto-corrupts was as high as Table Mountain. After years of hooligan cadre deployment and endless mega billion Rand cases that continue to go totally investigated it is apparent that there is neither interest nor ability to even make a small dent in the tsunami of theft from the public coffers.

Well done Eskom, bring them to book.

Do me a favour. Our cabinet went to Dubai to fetch the Guptas and were laughed out of the country.

Dubai has no law preventing anyone from bringing in physically Gold or Dollars in bags.

Is that not an incentive for criminals?
What is the US and EU doing about it? Nothing because they need Dubai.

Unfortunately South Africa has no extradiction treaty with Dubai.

The person referred to in the article does mot live in Dubai, but in London. The UK promotes good governance and law.

They’ve found their fall guy – one unlucky foreigner

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

Podcasts

INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles: Advanced Search
Click a Company: