Get IOL's cool new iPad app...
Cape Town - Former Transport Education and Training Authority (Teta) CEO Piet Bothma did not have the decision-making power to appoint asset managers, the Western Cape High Court heard on Monday.
Fidentia ex-broker Steven Goodwin said he knew Bothma could not decide to appoint Fidentia as Teta's asset managers, but induced him anyway.
“He would effectively promote the transaction internally,” Goodwin said.
Judge Anton Veldhuizen said he assumed Bothma had much influence.
“Yes he did,” Goodwin replied.
Braganza Pretorius, the lawyer for the accused in the matter, J Arthur Brown, said there were more than 20 people on the board, the entity entitled to make such a decision, including chief financial officer Dalpat Naran.
Goodwin confirmed Brown had not met Naran or any other key players in the transaction at that stage.
“Arthur was not aware of what I did.”
Brown, Fidentia's former CEO, is on trial for fraud, corruption, money-laundering, and theft, and has pleaded not guilty to running a pyramid scheme and using investors' funds for personal gain.
The State alleges that Brown gave, offered, or agreed to give Bothma a benefit “to wit financial gratification in the portion of the amount of R1 922,800”, which was not legally due to him.
Pretorius concluded his cross-examination.
The State would re-examine Goodwin on Tuesday. - Sapa