Another twist in Lahleni Lakes saga
The Lahleni Lakes saga has taken yet another twist - this time through a national newspaper report claiming fresh fraud allegations against well known local businessman Ramesh Joe Singh, who a few years ago declared a takeover of multi-million rand estate but was later accused of not honouring the agreement.
According to the report, Singh allegedly forged former associate Ralston Smith’s signature on a resignation letter quitting as a director in the company – revealed in an affidavit submitted by a consultant, Jan van Dyk, who allegedly facilitated the fraud.
But the GM of Lahlei Lakes, Peet Erasmus, has dismissed contents of the report as untrue, sensationalist, and slanderous. saying that that the ‘fraudulent resignation’ of Smith on Finishing Touch was being investigated.
According to legal documents, Mr Jan Van Dyk contacted Mr Eugene Van Zyl whom is a forensic investigator on the case and indicated the following: He fraudulently compiled one of the Finishing Touch CoR 39’s by cutting out the signature of Mr. Smith from a shares certificate using a pair of scissors which he then glued to the unsigned version of the CoR 39 and subsequently made a copy of the document which he sent to Miss Riana Pienaar.
Van Dyk admitted that Mr. Smith never signed the said document. Van Dyk initially also admitted that he followed a similar modus operandi with the CoR 39 of Lahleni Lakes, but later phoned back and said that he sent a blank copy of the CoR 39 to Mr Peet Erasmus who was able to forge the signature of Mr. Smith. A fraud case was opened at the Middelburg Commercial Crimes Unit.
Lahleni Lakes is responsible for a stalled R485m golf estate development between Middelburg and Witbank, with an Ernie Else designed Golf Course. The concept was launched several years ago but to date the land remains untouched despite large investments by debenture holders.
“It was in fact clearly stated that neither Mr Singh nor myself was aware of any fraud until the affidavit of Mr Van Dyk was revealed,” said Erasmus, adding that Van Dyk’s affidavit in no way implicates any of the parties, being either Singh or Erasmus. “Van Dyk implicated himself in his affidavit,” he said.
“It is also not true that Smith and Singh are equal share partners, as the matter is far more complex and detailed. And the so called take over arrangement came to being in late 2012, and involved clear guidelines and audit verification, to which PWC attended as independent auditors as per written agreement.
The value due to the Smith group was determined in consultation with Smith, and a written offer and undertaking was made to Smith, again as per written agreement. He declined the offer without cause or merit or fact,” said Erasmus.
The matter will appear before the High Court in Pretoria for pre-trial on 4 November 2016.
