News / National
Top Zimbabwean executive deported from SA over fraudulent documents
30 Apr 2017 at 18:48hrs | Views
The South African department of home affairs deported Bongani Mhlanga, the Mvunonala group's founder and group chief executive, back to his home country, Zimbabwe, the City Press reported.
Home affairs spokesperson David Hlabane said Mhlanga was deported because "he was in the country illegally and with fraudulent documents".
However, Mvunonala Holdings, through its lawyer, Kabelo Mathopo said: "There is currently a legal process pending between Mhlanga and the department of home affairs.
"Under the circumstances, we are precluded ... from providing a detailed response."
Mhlanga owns a string of properties in South Africa - including a palatial home on Umhlanga's exclusive Ridge Road with a view of the Indian Ocean.
Deeds office searches also revealed that he owns another home in the expensive Meyersdal Eco Estate in Alberton, south of Johannesburg, where properties are on the market for between R7m and R25m.
Mhlanga also owns two other homes: in Mulbarton, south of Johannesburg, and in Boksburg, east of Ekurhuleni.
The Mvunonala group is facing many other woes. Mvunonala Holdings was founded by Mhlanga, a former employee of Mantadia Asset Trust Company, which was bought out by Fidentia. Mathopo, denied that the Bophelo Beneficiary Fund (BBF), administered by Bophelo Benefit Services, was experiencing financial problems.
After he was deported, Mhlanga resigned as the company's group chief executive.
Almost two weeks ago, in an email to senior executives, he wrote: "It is with serious regret and a heavy heart that I announce my stepping down as group chief executive of Mvunonala Holdings with effect from May 1 2017. I will, however, stay on as executive chair of the group."
The Companies and Intellectual Property Commission (CIPC) said it had already received a request from the department of home affairs to have all companies associated with Mhlanga deregistered.
CIPC commissioner Rory Voller said: "The companies will be deregistered as they were registered using fraudulent documents.
The assets will be dormant and, if property is not claimed by legitimate means, it will be ... forfeited to the state."
PIC spokesperson Deon Botha said the PIC would like Mhlanga to be given the opportunity to respond to the allegations, and it would investigate before deciding what to do.
One of his companies, the Bophelo Beneficiary Fund (BBF), is feared to have lost at least R255m in mine workers' cash lost in pension scam.
Although it is unclear what happened to the money, a City Press investigation has found that, in trying to hide the lost R255m, the BBF, which holds the funds on behalf of the Amplats Group Provident Fund (AGPF) and its 7 229 beneficiaries, appears to have cooked its financial statements for last year.
The fund falsely claimed to own two "investment properties" in Johannesburg - the Parktonian Hotel in Braamfontein and an office block on Grayston Drive, Sandton.
The BBF's financial statements for the year ending February 2016 claimed the properties were worth R255m. The fund's financials reflect a balance of R578m - R323m in equities and R255m in "investment properties".
But a senior AGPF official told City Press this week that the fund could be bare, saying: "In fact, we are told that there may be nothing left in the fund."
Home affairs spokesperson David Hlabane said Mhlanga was deported because "he was in the country illegally and with fraudulent documents".
However, Mvunonala Holdings, through its lawyer, Kabelo Mathopo said: "There is currently a legal process pending between Mhlanga and the department of home affairs.
"Under the circumstances, we are precluded ... from providing a detailed response."
Mhlanga owns a string of properties in South Africa - including a palatial home on Umhlanga's exclusive Ridge Road with a view of the Indian Ocean.
Deeds office searches also revealed that he owns another home in the expensive Meyersdal Eco Estate in Alberton, south of Johannesburg, where properties are on the market for between R7m and R25m.
Mhlanga also owns two other homes: in Mulbarton, south of Johannesburg, and in Boksburg, east of Ekurhuleni.
The Mvunonala group is facing many other woes. Mvunonala Holdings was founded by Mhlanga, a former employee of Mantadia Asset Trust Company, which was bought out by Fidentia. Mathopo, denied that the Bophelo Beneficiary Fund (BBF), administered by Bophelo Benefit Services, was experiencing financial problems.
After he was deported, Mhlanga resigned as the company's group chief executive.
Almost two weeks ago, in an email to senior executives, he wrote: "It is with serious regret and a heavy heart that I announce my stepping down as group chief executive of Mvunonala Holdings with effect from May 1 2017. I will, however, stay on as executive chair of the group."
The Companies and Intellectual Property Commission (CIPC) said it had already received a request from the department of home affairs to have all companies associated with Mhlanga deregistered.
CIPC commissioner Rory Voller said: "The companies will be deregistered as they were registered using fraudulent documents.
The assets will be dormant and, if property is not claimed by legitimate means, it will be ... forfeited to the state."
PIC spokesperson Deon Botha said the PIC would like Mhlanga to be given the opportunity to respond to the allegations, and it would investigate before deciding what to do.
One of his companies, the Bophelo Beneficiary Fund (BBF), is feared to have lost at least R255m in mine workers' cash lost in pension scam.
Although it is unclear what happened to the money, a City Press investigation has found that, in trying to hide the lost R255m, the BBF, which holds the funds on behalf of the Amplats Group Provident Fund (AGPF) and its 7 229 beneficiaries, appears to have cooked its financial statements for last year.
The fund falsely claimed to own two "investment properties" in Johannesburg - the Parktonian Hotel in Braamfontein and an office block on Grayston Drive, Sandton.
The BBF's financial statements for the year ending February 2016 claimed the properties were worth R255m. The fund's financials reflect a balance of R578m - R323m in equities and R255m in "investment properties".
But a senior AGPF official told City Press this week that the fund could be bare, saying: "In fact, we are told that there may be nothing left in the fund."
Source - City Press
