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Sexwale was ‘scammed’

According to National Treasury and Sarb, after the ANC veteran claimed ‘heritage fund’ had been ‘stolen’.
Not the first to be conned –Tokyo Sexwale. Image: Moneyweb

National Treasury and the South African Reserve Bank (Sarb) have dismissed claims by businessman and ANC veteran Tokyo Sexwale that “billions” of rand raised for a so-called “heritage fund” had been “stolen”.

Sexwale, who made the claim on eNCA on Sunday, said the money raised would have been used for addressing an array of social ills like the paying off of student debt and providing Covid-19 relief.

Speaking to JJ Tabane on the Power To Truth TV show, Sexwale said he was one of two people in charge of the fund, which belonged to a “very powerful family”.

He said in the process of bringing the money into the country, he had encountered unspecified “resistance”. When he looked into what was holding up the transfer, he discovered some of this “money has been stolen”.

Read: 2020 was the year of the scam


National Treasury and Sarb, however, hold the view that Sexwale had fallen victim to a “common scam”.

In a joint statement, the financial regulators said over the years they have received “many such requests for, or promises of, billions (and now trillions) of rands or dollars, and from experience regard these as simply scams”.

“Any claim that such funds are meant for deserving causes such as Covid-19 relief, social grants or grants for free education are simply empty promises, to secure the interest of the potential victim.”

They noted that Sexwale was not the only victim of this con.

“National Treasury and the Sarb have previously received correspondence from Mr Sexwale and many others that alleges that billions of rands have been stolen from a fund that has been referred to as the ‘White Spiritual Boy Trust’ and which was set up by a foreign donor.”

The regulators then went on to explain that those behind the scam alleged that there were trillions of dollars in the fund and that a certain Goodwin Erin Webb was its mandated representative in SA.

They said an investigation found “no record of the existence of the said fund” and they had “advised Mr Sexwale in writing that, given the Sarb’s experience and knowledge of this and other similar matters, it could only conclude that the alleged fund was a scam”.

Not the first

They added that Sexwale was “not the first prominent person acting on behalf of a Mr Webb or an unknown donor, for such funds, and such requests can be traced to many years before 2016”.

According to the notifications provided by commercial banks, which are appointed as Authorised Dealers in foreign exchange transactions, there is no evidence to support the existence of such funds.

National Treasury and the Sarb say the ball is in Sexwale’s court when it comes to proving that Webb, the transfers, and the fund exist.

“If Mr Sexwale believes otherwise, the onus is on him and his unknown sponsor to provide independent written proof of the existence and/or transfer of such funds, as well as certified copies of actual identification and citizenship of such ‘donors’, in line with the normal FICA type anti-money laundering requirements.”

“Allegations of theft of non-existent funds have no validity.”

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At this rate, Sex-w(h)ale is going to end up just like that Hlongwane guy, or is it. They guy who reportedly made, wait for it, now $200mil dollars as a go between certain important persons in the SA’s Arms Deal (arms we did not need, nor ask for, nor did we have any enemies to fight them with, and without a restrain on foreign currency fluccuations!). The guy was reportedly pitched such a ‘too good to be true’ ‘investment’ that he ended up losing the funds he made from the French (firm) as commission. When he was found living surreptitiously in some seedy motel somewhere on the East Rand, and by a descerning journalist, he admitted to it. Looking rugged and shaken, he confessed that he lost $200mil trying ‘to make a million dollars’. Ruri dithoto ke lefa la ba botlhale (loosely translated- ‘fools are a heritage/gift of the cunning).

The only thing that turns an ANC cadre on is… Money.

Not helping his fellow South African. No. Just money.

The Freedom Charter was definitely a SMOKE screen.

Imagine sitting in Robben Island in a prison cell ( for x number of years)… and all you can think of is how you going to steal from the new State

…… Helping his fellow South Africans….is the least of his concerns…

Thats what they all did and that is why 27 years later they are still doing it and not one has been convicted.

Hang on Tony tiny ears was in the slammer for a bit. He must have drawn the short straw on the island.

Comment removed

Nope, much closer to home methinks; with some ANC complicity I would say.

I was doing my first year at varsity in 2008 when I learned of the Nigerian orphan scam, then pyramid schemes and Ponzi schemes. Where has this guy been living?

Dear Tony went to the University of Hard Knocks …

There is something smelly going on here, he is covering something up with a red herring.

This guy was very vocal when the spotlight was on him during his TV show, ala Donny boy, minister of housing, then moves on and is chairman of Trillion which has dealings with Regimen, which has dealings with our favorite threesome, Essa and the Gupta gang. Along comes Judge Budlender and booom Tokyo is gone, MIA, vanished into thin air. Dead quiet.

Now this?? Firstly, I would have assumed, maybe incorrectly, that he was awake enough to see a scam…….or something else is going on. The reserve bank knows nothing about this heritage fund, he says he raised the money, and it came into SA and now someone important has stolen it?????

Come, come Tokyo? Overplayed your hand in a coverup throwing big names around.

We shall see?

You know you bad when even your ANC comrades regarding you as a laughing stock.He really wanted to say Trillions was stolen,but then though as ex chairman of Trillion,social media would go to town.

I Go Chop Your Dollar!

Tokyo? Nope – Mogadishu

So they hit him with a 401 scam, like really – I expect someone who was the Chairman of Trillian to be smarter than that.

Not even Zuma could have fallen victim of such despite his low IQ

Dear God …. I though that I had heard it all, but now this?

The White Spiritual Boy Trust…?!Lol..!You can’t make this stuff up. So the wheel turns Tokio..?

More “stalwart” names involved in disappearing money. Maybe their next job should be magician

Zapiro’s cartoon would be old Tokes standing there, pockets bunging with loot, bawling his eyes out and ranting about “that” guy that stole the loot.

I find it impossible to believe that someone like TZ can lie about a fund he knows exist. Just let Tito tell us where the money is now, and why they never use it for what it is meant to be. These students are going to burn everything down if there is no money coming.

aah once again MW removes my comment about this cadre LOL

I remember hearing a rumour in the late ’90’s that was apparently facilitated by this joker…

There were 3 or 4 flights to Jhb International from Lagos and tickets were available @ 1 bar a pop…

One bag each, anything you want in it… and zero customs on arrival.

That was how the Nigerians got their foothold straight into Hillbrow and Joburg sentrale… walked straight off the planes through empty customs zones onto Pretoria street… apparently.

This close shave with an obvious 491 scam suggests our comrade is more familiar with the insiders than he would be willing to admit?

Two very telling sentences in the article:
1. “Sexwale said he was one of two people in charge of the fund,…”
2. “he discovered some of this “money has been stolen”.”

So essentially he is saying billions were stolen under his watch. Fortunately for him, these were billions of non existent funds in the White Spiritual Boy Trust. The trust name alone should have raised suspicion.

Scammed or not (this sounds like a smoke screen), if the money existed, where has it gone? If it wasn’t there, how can the allegation be that it did exist?

Either way, there’s a big disappearance trick here.

Clever, before the loss is discovered, stand up and howl about it and that guy who stole it.

Spotlight immediately moves off you and you can get on with the disappearing act.

Eventually if fingers are pointed you whine about how it was you that blew the whistle and look at me now the poor victim, prejudged, race card……

End of comments.





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