A multimillion-rand digital empowerment firm has been accused of defrauding its investors, hijacking another business and failing to pay its employees for the past three months.
The Saturday Star has spoken to former and current employees, clients and shareholders of the Sandton-based Curve Technology Group, with at least four pursuing legal action against the company.
A criminal case registered with the Hawks and SAPS was opened by Johan du Preez, who became involved in July 2016 when Curve offered to buy his company, Sector 5 Holdings.
According to an affidavit by Du Preez, Curve offered him 2.3% shareholding, or 2300 shares, allegedly worth R1300 per share. The total amount he claims he is owed is at least R3million. He says he has received only a R200000 retainer for the entirety of his company, “its assets, its client base and its goodwill”.
“Facts were deliberately misrepresented to me to gain control of my company my company was hijacked by unscrupulous people.”
Kenny Makoka, former chief financial officer of the Road Accident Fund, said that after a year of dealing with Curve and a R2m investment, he could only describe the directorship as “crooks”.
Makoka had been brought in as a shareholder by one of the firm’s directors, Craig Jones, whom he had worked with on other deals. The firm allegedly had a major contract to provide service to Telkom, but when this mysteriously fell through, Makoka said he wanted to withdraw.
During his tenure, Makoka claims company money was siphoned through the personal accounts of directors Amanda de Beer and Fred Baumhardt, who he accused of buying new private vehicles while failing to pay staff.
He claimed that when he told the directors he wanted to recoup his investment and leave, he would be ignored or sent threatening letters from the firm’s internal legal team.
Makoka has launched a liquidation application through the High Court.
A source at the company that leased Curve’s premises in Midrand confirmed it had failed to pay off its R1.3m lease that was initially set to end in August 2019.
“In October 2017, I was told they had found new premises and would be moving out If I tried to liquidate the company, it could take two to three years. It could cost hundreds of thousands of rand and it’s not worth the time and effort.”
Ex-employees told how they had left after not being paid. Two are pursuing civil actions.