New information about companies with Gupta connections stripping Transnet workers retirement funds has led the FF Plus to approach the Company Commission and request that the trustees serving on the Transnet Second Fixed Benefit Fund (TSFBF) and directors of Transnet be declared incompetent to serve as directors.
Adv. Anton Alberts, chairman of the FF Plus, said this step was mandatory after it became known that the TSFBF had instituted a claim against Regiment Capital for illegal payments to Trillian and Albatime. All companies are Gupta-affiliated companies.
He said it was shocking that given the impoverishment of pensioners due to Transnet’s stripping of their assets and non-payment of historical debt, the Transnet appointed trustees had the arrogance to allow Gupta-linked companies near the TSFBF to strip it without a conscience.
“It is also clear that other funds from Transnet Pensioners’ small pension fund have been eclipsed. The fact that the TSFBF is now suing for the lost money is a little too late.”
“The FF Plus directed several parliamentary questions in this regard to the Public Enterprises Minister Lynne Browne.”
“She will also be responsible for this because the FF Plus has over the past year asked many questions about the appointment of Regiments as the TSFBF’s fund manager and the answer every time was that all due diligence was properly done before the appointment.”
“It seems that it was indeed not done properly with the pensioners who bore the brunt of this. The FF Plus will ensure that the responsible persons will pay the price for this,” said Adv. Alberts.
Transnet pensioners will hold a march at Church Square later on today.
Read the original article in Afrikaans on Die Vryburger
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