Here’s why Tokyo’s fund is a scam
In the past week, Tokyo Sexwale has been called several unflattering names, including mampara of the week, for claiming that the South African Reserve Bank is hiding a secret fund that has been looted.
“There is no doubt that Tokyo Sexwale, former premier of Gauteng, ANC stalwart and respected businessman, has been scammed,” says forensic expert Chad Thomas.
Sexwale claimed last week that funds from a ‘heritage fund’, which was assigned to free higher education and other social relief measures, had been looted by the South African Reserve Bank (SARB).
However, National Treasury and SARB have said that the alleged fund is nothing but a scam.
After being ridiculed in the media and on social media platforms for being taken in by what is allegedly a scam, Sexwale arranged a press conference at which he singled out President Cyril Ramaphosa; finance minister Tito Mboweni; the governor of SARB, Lesetja Kganyago; and Paul Mashatile, the ANC’s treasurer-general, as some of the people who ignored his attempts to discuss the fund for over two years.
During the press conference, Sexwale said the allegations of him being scammed are being made by people who want to hide the truth about the looting of the fund.
The Hawks is investigating Sexwale’s claims.
WATCH: In an interview with Izak du Plessis, Thomas gives his opinion on the matter and why he believes the so-called fund has all the characteristics of a scam.
Read original story on rekord.co.za
