Piers Marsden informed the Hawks in July 2016 of dodgy Eskom transactions

On Wednesday, business rescue practitioner Piers Marsden, told Parliament during the state capture inquiry into Eskom, that the power utility paid the Gupta owned Tegeta mining company more than half a billion rand to help it buy the Optimum coal mine.

The transaction pertains to the sale of Glencore’s Optimum mine to Tegeta, which Marsden says he had found suspicious and reported to the Hawks.

EWN Reporter, Lindsay Dentlinger reports that Marsden detailed the events of how Optimum mine was purchase by Tegeta and how it all unfolded beginning with an offer by Bembani to buy it which was rejected by Eskom. There was later an offer by KPMG on behalf of Tegeta to buy the mine, says Dentlinger.

With just four days to go before the transaction had to be concluded, Oakbay informed the business rescuer that there was some R600 million short of the financing required to buy the mine.

Lindsay Dentlinger, Parliamentary reporter at EWN

Read: Optimum Coal Mine in the spotlight as Eskom inquiry continues

It was only just hours later when that a meeting was convened at Eskom, where a pre payment was made directly to Tegeta of about R586 million. That money went directly from Eskom to Tegeta before it even became a shareholder of the Optimum mine.

Lindsay Dentlinger, Parliamentary reporter at EWN

Dentlinger says Marsden found the transactions suspicious and reported that to the Hawks.

According to Dentlinger, he laid the complaint with the Hawks around July last year and it wasn't until this week that he heard from the Department of Priority Crimes, informing him of a new investigative officer on the case and that there were requests to interview him again.

Listen to the EWN report in the clip below:


702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Optimum Coal Mine in the spotlight as Eksom inquiry continues

Optimum Coal Mine in the spotlight as Eksom inquiry continues

The inquiry heard from business rescue practitioner Piers Marsden testifying about the sale of Glencore's Optimum.

Portfolio Committee chair shocked by latest testimony in Eskom inquiry

Portfolio Committee chair shocked by latest testimony in Eskom inquiry

A former Trillian employee revealed that Trillian CEO Eric Wood knew Nhlanhla Nene would be axed as Finance Minister.

Political desk: Mothepu's testimony is proof of insider trading - Karima Brown

Political desk: Mothepu's testimony is proof of insider trading - Karima Brown

Former Trillian employee Mosilo Mothepu gave testimony on Tuesday.

Whistleblower reveals damning evidence in state capture probe

Whistleblower reveals damning evidence in state capture probe

Parliament's Eskom inquiry resumed on Tuesday with whistleblower, Mosilo Mothepu giving testimony on Trillian and Eskom.

Bathabile Dlamini seems determined to have CPS stay on - Brown

Bathabile Dlamini seems determined to have CPS stay on - Brown

Karima Brown shares the latest in political news.

Software company SAP reports its Gupta links to US authorities

Software company SAP reports its Gupta links to US authorities

EWN's Gia Nicolaides and Corruption Watch Dave Lewis on the global software company SAP and the Guptas.

The country is in a state of ICU but nothing is being done - Iraj Abedian

The country is in a state of ICU but nothing is being done - Iraj Abedian

Economist Dr Iraj Abedian says the Mid-Term Budget delivered in Parliament is very concerning, even the rand reacted to it.

Treasury admits SA is in trouble

Treasury admits SA is in trouble

Dondo Mogajane, Director General of Finance at National Treasury is adamant that their job is informed by the Constitution and dictated by law.

Most important aspects of Malusi Gigaba’s ‘mini-budget’ speech

Most important aspects of Malusi Gigaba’s ‘mini-budget’ speech

Bruce Whitfield asks Investec Asset Management Economist Nazmeera Moola to distil the Medium Term Budget Policy Statement.

'Gigaba will have to bridge a roughly R40 billion shortfall in revenue'

'Gigaba will have to bridge a roughly R40 billion shortfall in revenue'

Economist Goolam Balim says debt and dwindling tax payments are only some of the financial constraints government is facing.

Popular articles
Dr Mbuyiseni Ndlozi opens up about his thesis

Dr Mbuyiseni Ndlozi opens up about his thesis

Ndlozi explains the significance of the the first chapter of his thesis: 'Trauma in the archives'.

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

German prosecutors probing Steinhoff CEO Markus Jooste (for accounting fraud)

The Money Show’s Bruce Whitfield interviews Steinhoff International Chairperson Christo Wiese.

So what exactly is radical economic transformation?

So what exactly is radical economic transformation?

Wits associate professor of economics Christopher Malikane speaks to Azania Mosaka about the term that is being bandied about.

Is it normal to have a curved penis? Dr Shingai explains

Is it normal to have a curved penis? Dr Shingai explains

Urologist Dr Shingai Mutambirwa says penile curvature is only a concern if it impedes a man's ability to have penetrative sex.

Who is Advocate Tembeka Ngcukaitobi?

Who is Advocate Tembeka Ngcukaitobi?

The EFF lawyer stole the show during the state capture report court battle.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

Blesserfinder: Matching you with a sugar daddy near you

Blesserfinder: Matching you with a sugar daddy near you

Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?