DA member 'joins FSCA to deal with ANC'

A politician who is a known supporter and member of the DA is the director of investigations at the Financial Sector Conduct Authority (FSCA), and was allegedly placed there to “deal” with members of opposing political parties.

Brandon Topham has served as a leader of the DA in the City of Tshwane and as a MP.

A source close to the recruitment alleges that the appointment was made earlier this year, to “deal with ANC members” and other political opponents.

Topham resigned as an MP last year to take up his new position in the FSCA.

The source further alleges that Topham also has an “unusual alliance” with Public Enterprises Minister Pravin Gordhan.

Topham has since denied that, saying they knew each other because they had worked together closely in Parliament.

According to the source: “We suspect that one of his other mandates is to protect white-owned business interests in the financial markets, which is why companies such as Steinhoff, Tongaat Hulett and EOH were never raided by the regulatory body, despite there being overwhelming evidence of widespread corruption in both of these entities. Instead, they went for Sekunjalo.”

However, University of Zululand Professor Sipho Seepe said there was nothing wrong in the appointment of persons or former MPs, whether from the governing or opposition party.

He said the only problem was when individuals were appointed on the basis of pursuing a political agenda.

Two weeks ago the FSCA said it had obtained a court order to raid the offices of Sekunjalo Group as part of an investigation into allegations of prohibited trading practices.

Sekunjalo has controlling interests in AYO Technology Solutions, African Equity Empowerment Investments and Independent Media, among many other assets.

The company said it would approach the high court to set aside the FSCA search and seizure application.

Responding to questions, Tembisa Marele, a spokesperson at the FSCA, said Topham had had a long career as a lawyer and a chartered accountant.

She said Topham was no longer an active politician and, as a fully independent organisation, there was no opportunity for political abuse in their investigations.

The DA had not responded to questions by the publication deadline.