Posted on 02/25/2007 7:29:46 PM PST by blam
Mandela sues over 'missing' cash
By Christopher Munnion in Johannesburg
Last Updated: 1:33am GMT 26/02/2007
Nelson Mandela is taking legal action against a former friend and lawyer after £118,000 was reported to be missing from a trust fund.
The retired South African president's legal team alleges in papers filed at the Johannesburg High Court that Ismael Ayob, a former fund trustee, used the money to buy cars and pay large sums into his own companies.
In an affidavit, George Bizos and Wim Tremgrove, who are both trustees of the fund, allege that Mr Ayob made "disbursements of more than 1.2 million rand and distribution of 700,000 rand from the trust's bank account" without consulting the other trustees.
The Johannesburg Sunday Times reported that the money was part of the 18 million rand (£1.4 million) raised by the Nelson Mandela Trust for the benefit of his children and grandchildren.
Mr Ayob has alleged that Mr Mandela refused to pay taxes on royalties for his book Long Walk to Freedom. He also alleged that the former president had approved "dubious payments" from the fund.
Mr Ayob has repeatedly denied any wrongdoing and said he would "vigorously defend" his position when the case is heard in the high court tomorrow.
I'm going to look at this as progress. A few years back Mandela would have given him a necktie.
Whats this? No honor among thieves.
Communists eating each other. Hahahahaha....!
Kleptocracy.
Ismael Ayob is probably a graduate of the Jesse Jackson International School of Financial Accounting.
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