SA's most corrupt private sector company

SA's most corrupt private sector company

Rapacious, financially illiterate lawyers clean out Randgold’s war chest.

On numerous previous occasions Noseweek has reported on how Randgold & Exploration Company (Randgold), a simple investment holding company listed on the JSE and formerly on the Nasdaq in New York, was pillaged of billions of rands over 1999 to 2005 by JCI (Brett Kebble’s mothership), without detection by the then board of directors, who were wilfully blind to the destruction in value, and its careless independent auditors, who had easily been hoodwinked.

Once discovered, Randgold – had it been under independent control – would surely, as a matter of extreme urgency, have completed a forensic investigation and then immediately issued summons against the thief (JCI), the recipients of the proceeds of the thefts and other wrongdoers. If JCI was unable to pay the claims, it would have been liquidated and an inquiry in terms of Section 417 of the Companies Act would have ensued.

Like to see more ?

Subscribe to our on-line edition !

For a mere R305.00 per year you get the convenience of our online version including:
  • Twelve monthly issues of Noseweek delivered to your browser
  • A searchable archive
  • Access to every back issue since 1993 !
  • A downloadable PDF version

If it’s just the article you are after, you can purchase it by clicking here.

Tempted ?

For a taste of what awaits you, you are welcome to browse this free issue.

Share this article:

Reader's comments

Like to add your own comment ? Please click here to subscribe - OR -
Submitted by : Roger Mundel of Johannesburg on 2017-05-27 08:33:27
There are many shareholders holding hundreds of thousands of JCI shares who have not received any information from the JCI Board (Investec puppy dogs)
for many years.
The late Barry Seargent revealed practically all the thieving in various books he wrote about this, the biggest white collar crime in South Africa, implicating Investec – and he was never sued by them; in effect they silently admitted their crimes.
Investec, like JZ, has avoided being brought to justice by means of various stalling court actions, all paid for by innocent third parties.


While every reasonable effort is taken to ensure the accuracy and soundness of the contents of this publication, neither the authors nor the publishers of this website bear any responsibility for the consequences of any actions based on the information contained therein.

Important information regarding cookies
By using this website, you consent to the use of cookies in accordance with our Privacy Policy.