The skeletons continue to come rattling out of the Oasis group’s cupboard, which raises the question: how did the Financial Services Board ever see fit to issue the Ebrahim brothers with a licence to handle other people’s funds?

The latest skeleton is the culmination of a chain of events that began in 1988 when two bothers, Abdul and Istiaq Badroodien, took over their father’s various businesses that included Lady Bee Supermarket (Pty) Ltd and Budd Property Investment cc. Abdul, who had a butchery at Ottery Hypermarket, Cape Town, was in charge of the administration of the supermarket business – a responsibility that led him in 1989 to retain attorney Nazeem Ebrahim to undertake some legal work.

Yes, the “I-am-not-uncle” Nazeem of the “I would fuck him over” fame, the Oasis group’s company secretary who also doubles as the manager and executive director of Oasis Crescent Property Fund and its management company.

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