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SnowBank – BLEFF, Pravin Gordhan and imaginary Canadian account R675m



So how does the five-time ANK minister serve a notoriously corrupt kleptocratic developer abroad is 675 million Madibas distant Canada? He did not.

First of all, some perspective. In South Africa, whichever you are asking, private minister Pravin Gordhan is either a tireless anti-corruption fighter or the head of an Indian mosquito who draws hundreds of millions of dollars into remote bank accounts while hindering the development of Floyd Shivambu"with family farms and the destruction of Tom Moyan" Christmas in Mauritius.

The facts are less ambiguous – the courts routinely and with great excitement accused the accusation against the minister (dishonest units in revenue management, comfortable retirement plans for his buddies, etc.), and it is clear that his enemies form the teeth of ANC rent-seeking applicants under the ANC and his exiled allowances. Life must be uncomfortable for Gordhan, but it is"which is unequal for its enemies, which begin to rest in the mouth and remind of the slavery of mental patients every time they leave the boundaries of their air conditioned luxury Mercedes cars.

International bankers, however, could not give less of these nuances. Minister Gordhan is a member of the ANC, a political party generally perceived as corrupt, seeking rent and flooding with dirty money. (Taky Bathabile Dlamini.) Certainly, any international banking CEO who is worth his salt has a picture of Madibou from a forgotten event of the 1990s hanging on the wall. But for the developed banking sector, the ANC is a political smegma. While Gordhan& Quot; S & quot ;. two terms of office as Minister of Finance he received a lot of respect in Davos and other neo-liberal talk shows"t means a lot when the bank"regulatory requirements.

Second, why did we discuss it? On Tuesday, fighters for economic freedom spent a small portion of their unlimited resources on arranging a dance party outside the Brooklyn Police Station, has filed a number of charges against public authorities minister. (The day after he filed his own charges against Malema.) The most significant were the charges "blackmail and / or money laundering" , which relates to an account held at the Royal Bank of Canada, which allegedly contains an astounding – yet symbolically significant – amount of R675 million. Why is it symbolically significant? That& Quot; S & quot ;. almost equivalent number of Gupta brothers offered by former Finance Minister Mcebisi Jonas when they tried to pay him to Nhlanha Nen"with a position in 2015, do or change.

Six hundred million. The sign of the beast.

While the EFF probably will not work directly for the benefit of the Gupta, they"there is certainly interference for those who were previously associated with the Grim brothers. One is not"t must be a numerologist (or a banker) to see how it plays alone.

But I still welcome you to the Royal Bank of Canada! Sit down there"and try one of these delicious candy flavors while you wait!

At this point it is"you probably need a quick word about the banking sector in Canada, which will become one of the most regulated companies in the world. (Remembering why the EFF chose Canada for this particular banging of the bullshit because it sounds far away, because the dead are amazed by the absurd Prime Minister Justin Trudeau?"the economy that was back in the early 1990s was an agreement between the government and what would happen to the country"Big Four Financial Institutions: We regulate Bejes from you and keep an unbreakable common monopoly. So far, it is so good – and although banks were exposed to varying degrees of risk mortgages in late nil, they (and Canada, too) have wound up the financial crisis with minimal damage.

And the bankers got it rich AF.

Here Canada will play"Big four banks do not"do not play around, mostly because they do not need it. (The big four should not be confused with the opaque a dangerously spectacular Export Development Canada, an agency that lent $ 45 million to Gupta's Bombardier. Nor should they be confused with Bombardier, the airline and transport company in Montreal, which is allegedly one of the most corrupt in the world.) Moving $ 45 million should not mean, but it would not be impossible. And Gordhan would not be the first person to fake the Canadian bank, which is constantly accepting Shasta deposits. But these are other types of sixties that we do not produce in South Africa.

Before we get too far into the weeds, we will get through the really weak part of the EFF story. First of all, it should be noted that they have created a bank account number, which does not apply when filing fees"t corresponds to whatever the RBC would result. (As first reported in News24, and confirmed Daily Maverick, the numbering system that the EFF invented does not exist in the bank.)

That's really, really stupid.

But sad, it is"it's not the stupid thing about their allegations. The stupidest thing is that the name attached to the account is not Pravin Gordhan"but, R Jamandas Gordhan, who can be a good person, but it is not right person.

Oh wait! That"it's not the stupid thing! The slightest thing (for reality now) is that the place where they insist that a numerically impossible fake account is NoIt does not exist. There is no place like Shebrook, Montreal. (Either they thought of Sherbrooke, Quebec – a city in the French province – or the RBC branch in Sherbrooke in Montreal.)

So what we have here is crazy bank warts.

But it's how I think we do"I have already mentioned a very real problem with Gordhan himself – he"d) consistent requirements for Know-Your-Client global banking as a politically exposed person (PEP) and fines, and reputation the risks associated with these characters are not really worth considering as banknotes that come with banking. There are, of course, many ways Gordhan has managed to keep what the banker has called me "anonymous beneficial interest in an offshore asset" which would have to be established "with the help of sophisticated financial and legal advisers won"to be the first to do it successfully." (Banker no"I do not want to be named because not"You feel confronted with the sad face of Godrich Garde at 3 o'clock on the lawn and you're holding a rally with 11 people in red T-shirts.)

What"It's more like the banker said to me Yippee it is possible that so much money could be paid to Canada, given that the arrangement was carefully arranged (and hence the ken EFFers,"m sad to say). To:

In terms of the amount: from the SA Exchange Control perspective, it is possible to achieve this legal value either legally, either a one-off individual or corporate application on SARB and SARS, or an annual R10m per individual limit. You can use SA asset manager to bypass the request process"Asset Swap Limit. To achieve this quantum volume by law using radar per minute for each individual discretionary contribution, it will take a long time or co-operation with a large family. The point is that all three methods leave a trace of paper.

But this does not say BLEFFers. They literally say that PraI apologize, R Jamandas Gordhan opened an account in his name at RBC without bothering to perform highly specialized work done by the right thieves – a distinct breed from VBS mini-pilferers – to secure and conceal their money. Accounts of non-residents are common in Canada and are open through personal or corporate funds through such entities as a companionor partnership – provided that the funds deposited come from legal or legal sources and that the story is added.

That, according to the second banker I talked with, worked the same way as any bank account. If you do"is the company we are talking about – and we are not – Gordhan would have to provide corporate documents that show that the company exists that he has the right to open accounts while identifwho can act on behalf of a company or partnership. Then he would have to say where the money came from, why he chose Canada, and the bank would like to independently confirm the story.

All this could happen. But again – it requires a trace of tilting paper.

In other words, this is a very sloppy insult. But it can mean a great deal. RBC and Canada"with the Office of the Supervisory Board of Financial Institutions, equivalent to SA"which have already been submitted to the SARB / Prudential Oversight Authority. They obviously will not publish personal details, but if he finds that Gordhan "has ordered different taxpayers" to deposit "large amounts of money" on the RBC account in "exchange for kindness" – will be frozen from a non-bank account without banknotes and its fake money. However, if the EFF is – of course – they& # 39; s screwed. The bank will almost certainly sue for damaging the reputation and can cause real pain because the allegations relate to US dollar-traded transactions.

Oops.

So two things. Unreservedly, the EFF assumes that its supporters are idiots without critical thinking. Even worse& # 39; s financial illiteracy and lack of access to substantiated factual controls to use very reasonable outrage who is participating in these late ANC days"with the Republic of South Africa. Second, they"so desperately that some lie – no matter how little baked – will do. Either way, they reject any claim that they are a reasonable opposition party. They are just another group of pajamas who want to get state rewards. Pravin Gordhan, who invented them, is not their disaster. It's their hero.

It"it's a shame, but it looks like you can"t bank these days. DM

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