Pam Golding dirty money claim probed
● Real estate giant Pam Golding Properties is under investigation for allegedly aiding the family of former Mozambican president Armando Guebuza to launder money through the sale of two Johannesburg properties worth a combined R50m.
Yesterday the Estate Agency Affairs Board confirmed its investigation of the sales and said the probe will also involve the Financial Intelligence Centre (FIC).
The investigation is examining allegations that the company contravened financial laws by facilitating the sale of properties in Dainfern and Kyalami Estate to the politically exposed family.
Bradd Bendall, the general manager real estate operations for Pam Golding, said he was unaware of the investigation, but the company would co-operate.
Asked if it disputed the allegations and whether it made the necessary financial checks on the funds’ source, Bendall said: “We take these allegations extremely seriously. We are in the process of conducting an independent investigation.
“It is imperative that the integrity of the comprehensive, independent investigation is maintained.”
Guebuza’s son Ndambi was arrested in February last year in Mozambique in connection with a $2bn (about R31bn) government debt scandal.
That country's former finance minis
ter, Manuel Chang, was arrested at OR Tambo International Airport in December 2018 on a US extradition request over his alleged involvement in the scandal. He is alleged to have received $12m in kickbacks.
It is alleged that while Guebuza was in power, the Mozambican government took out $2bn in loans to buy a tuna-fishing fleet and surveillance ships, but hid the transactions from the country’s parliament and international donors.
An independent audit found that a quarter of the loan amount had been diverted, and could not be unaccounted for.
The US government alleges that $200m was spent on bribes and kickbacks, with $9.7m apparently going to Guebuza’s son.
The estate agency board said Pam Golding Properties would be investigated for allegedly not following legal requirements for the sales and alleged money laundering.
Board CEO Mamodupi Mohlala described the allegations as serious.
“Enforcement and compliance are at the core of our mandate. We have to ensure that there is full compliance no matter how big or small a licensee,” she said.
Mohlala said the board would meet the FIC soon to finalise the scope of the investigation. It would investigate whether Pam Golding Properties transgressed the FIC Act, including among other things being party to money laundering and the financing of terrorism.
She said any adverse findings would result in the company being hauled before the board for a disciplinary hearing.
“The findings will determine a possible sanction, which could include a substantial fine.”