Interesting Court Judgment no 2

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Jack Welles
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Interesting Court Judgment no 2

Unread post by Jack Welles » Thu Aug 15, 2019 12:44 pm

Concourt has ordered Molefe to pay back the R10 mill pension he got from Eskom. There are no further appeals available to him now.
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Re: Interesting Court Judgment no 2

Unread post by HJK 414 » Thu Aug 15, 2019 1:02 pm

Jack Welles wrote:
Thu Aug 15, 2019 12:44 pm
Concourt has ordered Molefe to pay back the R10 mill pension he got from Eskom. There are no further appeals available to him now.


Now the question becomes - where did he "park" this money …...and in whose name ……. :roll:
Is a personal bankruptcy "available" - despite the court order ?

JK
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Re: Interesting Court Judgment no 2

Unread post by Whirly » Thu Aug 15, 2019 1:14 pm

HJK 414 wrote:
Thu Aug 15, 2019 1:02 pm
Jack Welles wrote:
Thu Aug 15, 2019 12:44 pm
Concourt has ordered Molefe to pay back the R10 mill pension he got from Eskom. There are no further appeals available to him now.


Now the question becomes - where did he "park" this money …...and in whose name ……. :roll:
Is a personal bankruptcy "available" - despite the court order ?

JK
He has lots of properties registered in his name.

Solidarity is also taking him on for their costs of around R708 000 and already obtained a warrant to attach goods belonging to Molefe.

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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Thu Aug 15, 2019 1:18 pm

HJK 414 wrote:
Thu Aug 15, 2019 1:02 pm
Jack Welles wrote:
Thu Aug 15, 2019 12:44 pm
Concourt has ordered Molefe to pay back the R10 mill pension he got from Eskom. There are no further appeals available to him now.
Now the question becomes - where did he "park" this money …...and in whose name ……. :roll: s a personal bankruptcy "available" - despite the court order ? JK
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Re: Interesting Court Judgment no 2

Unread post by snoopy » Thu Aug 15, 2019 1:20 pm

Go do the maths people - he is still on winning streak - you have to add up all the money he got from tax payer funded SOEs. He's still way ahead on our tax money...and getting interest on it.

If you get R30 million of the tax payers money and need to pay back 10 million - did you lose? Of course not.
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Re: Interesting Court Judgment no 2

Unread post by Fransw » Thu Aug 15, 2019 1:23 pm

Good!!

Hit them and hit them HARD!! 8)
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Re: Interesting Court Judgment no 2

Unread post by Whirly » Thu Aug 15, 2019 1:23 pm

snoopy wrote:
Thu Aug 15, 2019 1:20 pm
Go do the maths people - he is still on winning streak - you have to add up all the money he got from tax payer funded SOEs. He's still way ahead on our tax money...and getting interest on it.

If you get R30 million of the tax payers money and need to pay back 10 million - did you lose? Of course not.
The way I understand it is that he only received R10-R11 million up to now and the rest is still due to him (and maybe no longer?)............................but I might be completely wrong. :?

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Re: Interesting Court Judgment no 2

Unread post by snoopy » Thu Aug 15, 2019 1:28 pm

His portfolio is worth 3 times more than R10 million - not bad for a person who worked in a SOE for 1 year and 7 months. I wonder what CEO in a private company would get R30 million pension for less than 2 years employment.
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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Thu Aug 15, 2019 1:30 pm

Whirly wrote:
Thu Aug 15, 2019 1:23 pm
snoopy wrote:
Thu Aug 15, 2019 1:20 pm
Go do the maths people - he is still on winning streak - you have to add up all the money he got from tax payer funded SOEs. He's still way ahead on our tax money...and getting interest on it.

If you get R30 million of the tax payers money and need to pay back 10 million - did you lose? Of course not.
The way I understand it is that he only received R10-R11 million up to now and the rest is still due to him (and maybe no longer?)............................but I might be completely wrong. :? Whirly.
My info is that he was awarded R30 mill, collected R10 mill, court cancelled R30 mill, court ordered R10 mill to be paid back. Ignore the negative fake news narrative. Okes are desperate to find something bad in everything. It must be genetic :lol:
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Re: Interesting Court Judgment no 2

Unread post by snoopy » Thu Aug 15, 2019 1:33 pm

OK then he got nothing... from that short stint in the end. But will the price of electricity come down after the money is recovered? :twisted: You see thats how you worked through the ears as customers of SOEs that hold the supply monopoly.

Anyway with 15 properties and a R33 mil portfolio - he did pretty well for a 53 year old - who used to be a SANDF "kernel"
Last edited by snoopy on Thu Aug 15, 2019 1:36 pm, edited 2 times in total.
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Re: Interesting Court Judgment no 2

Unread post by Jack Welles » Thu Aug 15, 2019 1:33 pm

negativity.jpg
My info might be wrong. I don't study this stuff in depth. If it is, blame it on confirmation bias :lol:
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Re: Interesting Court Judgment no 2

Unread post by snoopy » Thu Aug 15, 2019 1:40 pm

I bet you he's not emigrating any time soon. :twisted: :lol:

The only way - the payback will be of any value to the electricity consumer - is if the tariff drops...I doubt it will.

If all the wasteful expenditure is recovered and nothing changes...and tariffs remain high (caused by wasteful expenditure and corruption)...what was the exercise about, and in who's interest?

And who gets the interest on a fixed deposit of 10 mil....for X years? Clever thieves + interest free loan of tax payer millions siphoned out of an SOE. :idea:
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Re: Interesting Court Judgment no 2

Unread post by Fransw » Thu Aug 15, 2019 1:53 pm

snoopy wrote:
Thu Aug 15, 2019 1:40 pm
I bet you he's not emigrating any time soon. :twisted: :lol:

The only way - the payback will be of any value to the electricity consumer - is if the tariff drops...I doubt it will.

And who gets the interest on a fixed deposit of 10 mil....for X years? Clever thieves.
Snoops, look at the bigger picture. This is a good start. It shows the system is working. This is our only real hope and this is also the only real way to push back! Yes its a long and frustrating process to get a positive outcome like this. But the sooner we start growing the wave the better.. We must support all actions like this!
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Re: Interesting Court Judgment no 2

Unread post by snoopy » Thu Aug 15, 2019 1:59 pm

Of course it is a start...but even if you get ALL the tax payers money back - and pay it back to treasury, and you still sucking them dry via SOEs- because you are FUBAR SOEs...nobody really wins on the tax payer side.

Only the state winning and the lawyers. Its like hedging a legal aid fund, and cashing in on the interest of tax payers money...until such time as you get caught out. :twisted: :lol:

Ask Ted Blom what your electricity tariff should be per kwh... thadha! Then you will know you're still getting screwed over a barrel, regardless of whether the perp kept the 10 million or gave it back (much later) to the state.

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Re: Interesting Court Judgment no 2

Unread post by cage » Thu Aug 15, 2019 2:08 pm

Sorting out corruption is like trying to boil the ocean, you need to start one kettle at a time.
Hold enough people accountable, slow the system down and eventually the culture may start to change.
We need a lot more of this but I view it as a good, albeit small, start and something that was impossible under $uma.

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