WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2004-05-20 Time: 10:56:02 Posted By: Jan
[There was fraud in the Road Accident Fund. Its another typically African mess. Jan]
Pretoria – The Road Accident Fund (RAF) is technically bankrupt and is operating on a technical deficit of about R16.6bn says forensic investigator Ignatius Leopoldus Rautenbach.
In a statement submitted to Pretoria regional court, Rautenbach claims the fund became a “cash cow” for fraud syndicates.
The statement is part of a plea agreement between the State and Marus Sebesho, a Johannesburg attorney.
Sebesho admitted guilt to a charge of fraud after he was paid out a claim on behalf of a dead client. He kept the cash for himself.
In accordance with the plea agreement, he has until November to pay back R249 000 to the fund. He was also sentenced to three years’ house arrest and has to spend 16 hours a month doing community service.
He was sentenced to three years in prison as well, suspended for five years.
The RAF’s Duncan Anderson said the fact the fund was “technically insolvent” did not mean it had no money to cover its claims.
He said it meant their forecasts had to make provision for unfunded liabilities.
The R16.6bn was in respect of future claims that had been taken into consideration, he said.
Edited by Iaine Harper
Liela Magnus, Rajaa Azzakani & Marthinus van Vuuren
Source: Finance24.com
URL: http://www.finance24.co.za/Finance/Companies/…/p>