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SAP confesses to misconduct in SA public sector deals involving the Guptas

8 March 2018 7:13 PM
Tags:
Gupta
Guptas
Atul Gupta
Bloomberg
SAP

The Money Show’s Bruce Whitfield interviews Bloomberg reporter Paul Burkhardt.
A screengrab of Atul Gupta. Picture: EWN

German software company SAP found compliance breaches and "indications of misconduct" in public sector deals in South Africa involving the Guptas, friends of former president Jacob Zuma accused of corruption, it admitted on Thursday.

The three executives SAP suspended last year has resigned, without severance pay.

SAP confessed it paid more than $8 million to intermediary companies controlled by the Guptas.

The company will end all sales commissions on public sector deals in countries with poor corruption ratings.

The Money Show’s Bruce Whitfield interviewed Bloomberg reporter Paul Burkhardt.

Burkhardt clarified what SAP admitted to today, and the consequences of the admission.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

They still have a pending investigation [by US authorities]… They say they don’t anticipate any sanctions there…

Paul Burkhardt, Bloomberg

It’s certainly not over…

Paul Burkhardt, Bloomberg

Click here (then “like” the page) to follow Bruce on Facebook.

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8 March 2018 7:13 PM
Tags:
Gupta
Guptas
Atul Gupta
Bloomberg
SAP

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