Probe into Trillian can form part of recommended state capture inquiry: Sexwale


Probe into Trillian can form part of recommended state capture inquiry: Sexwale

Jan Bornman | 2017-05-25 20:06:02.0


Image by: Sunday Times

Tokyo Sexwale has announced that the investigation he commissioned last year into the implication of Trillian Capital Partners in state capture can form part of an inquiry recommended by the public protector.

Sexwale‚ a former minister of human settlements‚ announced last year that he appointed advocate Geoff Budlender to investigate Trillian Capital’s alleged knowledge of former finance Nhlanhla Nene’s axing in 2015.

In a statement released on Thursday Sexwale said Budlender was expected to finish his investigation in June‚ after which Sexwale would resign from the Trillian board to focus on other business interests.

“I have reconsidered my position within the company and upon receipt of the report from Adv Budlender‚ I shall depart from chairman not because there may or may not be any wrongdoing at Trillian but due to the fact that my business model has changed‚” he said in the statement.

“I came here to be part of an asset management company and to eventually buy a stake in it. I did not expect the allegations whose investigations have taken longer than anticipated and can’t spend my time dealing with constant allegations that require adequate investigation and verification.

“While I believe in the skills and robustness of the company and its employees; it’s also not in the interest of the company‚ its employees and clients to remain constantly in the headlines for the wrong reasons‚” he said.

Sexwale said the investigation had the full backing of the Trillian board and management had provided thousands of pages of documentation to Budlender.

“After carefully looking at all relevant matters I have realised that there are issues here that are much bigger than Trillian. Chief among them is that the President opens up and take the nation into confidence about how information that was supposed to be the sole preserve of the president ended up allegedly in the hands of private companies‚ such as alleged against Trillian. Therefore‚ we support the proposition of a judicial commission that can only be appointed by a non-conflicted person such as the Chief Justice‚” he said.

After releasing her report‚ former public protector Thuli Madonsela recommended that a full inquiry be conducted on state capture.

TMG Digital/TimesLIVE

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