Tokyo Sexwale

Sexwale publicly claimed that billions, or even substantially greater amounts, originating from a fund linked to the "White Spiritual Boy Trust" had been transferred and subsequently diverted or manipulated. The National Treasury and South African Reserve Bank stated that they had found no trace of the fund and characterised such promises of funds as a common scam.

Legal status — source text

Not applicable

Attribution

Personally implicated

Tokyo Sexwale, non-executive chairman of Trillian Capital Partners, commissioned lawyer Geoff Budlender to conduct an independent investigation after allegations linking Trillian to the "state capture" network. The report described management obstructing the investigation, a lack of cooperation and troubling evidence; controversy also arose because Sexwale had continued receiving fees during part of the period when warning signs were publicly known.

State of the evidence

Documented

Legal status — source text

Not applicable

Attribution

Direct responsibility

Investigations by the Mail & Guardian/amaBhungane identified Tokyo Sexwale as the South African businessman connected to certain mining arrangements described in the US Och-Ziff case. DOJ/SEC proceedings established an Och-Ziff corruption scheme in several African countries, particularly Guinea, and the South African press documented Sexwale's business links to actors in that network.

State of the evidence

Allegations

Palladino Capital 2 granted Guinea a $25 million loan to establish a state mining company, under an arrangement that could provide access to mining assets in the event of default. Journalistic investigations linked the vehicle and its promoter Walter Hennig to Tokyo Sexwale's business network and Mvelaphanda. The transaction raised suspicions over opaque terms and the mining interests that could result.

State of the evidence

Allegations

When the Batho Bonke BEE consortium's Absa investment was unwound, the Mail & Guardian revealed that Mvelaphanda Holdings was seeking repayment of initial financing from certain beneficiaries on terms potentially representing 12.5% of the value realised, following an initial demand of 25%. Sexwale, a promoter of the arrangement and economic beneficiary of Mvela, stood to benefit substantially from these repayments and dividends, prompting debate over the true distribution of profits from a scheme presented as broad-based.

State of the evidence

Documented

Legal status — source text

Not applicable

Sexwale's name became entangled in the South African controversy over Iraqi oil allocations and surcharges in breach of the UN Oil-for-Food Programme, because of business and political relationships examined by the Donen Commission. Publication of the report sustained debate for several years over access and influence enjoyed by South African figures in these transactions.

Attribution

Directly implicated